SPX Weekly Options Trade Plan 2025-06-20

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SPX Weekly Analysis Summary (2025-06-20)

Comprehensive Summary of Key Points

Technical Analysis:

Current Price Position: SPX is trading at $5970.33, below all major EMAs (10, 50, and 200-period), indicating a bearish trend in both short and medium-term charts. Momentum Indicators: The 5-minute RSI is at 42.86 (near oversold territory), while the daily RSI shows neutrality at 54.41 but declining. The MACD indicates weakening momentum with negative divergence. Bollinger Bands: Indicate low volatility on the 5-minute chart with potential for a bearish move, with key support levels identified at $5963.72. Market Sentiment:

VIX Analysis: The current VIX is 20.31, suggesting elevated market anxiety and typically correlating with downward pressure in equity markets. Options Market Sentiment: The options data displays a bearish bias, with strong open interest at $5970 puts and $6000 calls, indicating potential selling pressure. The max pain level is at $5970. Directional Consensus: