SPY 0DTE Options Premarket 2025-04-01 (DS)
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0DTE SPY Trade Plan - April 1, 2025
Technical Analysis Synthesis
Price Positioning: Current price ($559.39) sits above 5-minute 10/50/200 EMAs (bullish short-term) but below daily 10/50 EMAs (bearish intermediate-term). Key Resistance: 559.52 (M5) and 568.0 (daily). Key Support: 556.26 (M5) and 548.03 (daily). RSI: M5 RSI (63.98) neutral, daily RSI (36.78) oversold. Bollinger Bands: Price near upper M5 band (559.88), daily price near lower band (548.62).
Market Sentiment Integration
VIX: Elevated at 24.01 (+20% above 5-day avg), signaling rising fear. News: Tariff/stagflation risks dominate, creating bearish macro pressure. Options Data: Max pain at $556.00 (below current price). Heavy put open interest at $550 (30,575 contracts).
Directional Determination
Market Direction: Moderately Bearish (60% confidence)
Supporting Factors: Rising VIX + negative news flow Max pain ($556) below current price Daily RSI oversold but no clear reversal signals Heavy put OI at lower strikes