SPY 0DTE Options Premarket 2025-03-28 (DS)
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SPY 0DTE Trade Plan - March 28, 2025
Technical Analysis Synthesis
Price Position: Trading BELOW all key MAs (10/50/200 EMAs) on both M5 and daily charts M5 RSI (34.44) shows oversold conditions, but daily RSI (45.93) remains neutral Price near lower Bollinger Band on M5 chart (567.08 vs. lower band 567.14) Key Levels: Immediate support at 566.39-566.64 (M5) and 564.29 (daily) Resistance at 569.06 (M5) and 568.00 (daily)
Market Sentiment Integration
VIX at 18.06 (normal volatility, falling trend) suggests muted fear Bearish News Catalyst: Hot inflation data + futures down pre-market Max Pain at $567.00 aligns with current price, creating gravitational pull
Directional Determination: Moderately Bearish
Key Factors:
Price below all key moving averages Negative reaction to inflation data Max pain at $567.00 (current price: $567.08) suggests limited upside High put open interest at $560-$567 strikes
Options Strategy: Buy 0DTE Put