SPY 0DTE Options Premarket 2025-04-28 (DS)

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SPY 0DTE Trade Plan for 2025-04-28

1. Technical Analysis Synthesis

Key Observations:

Price Positioning: Trading $550.64 (above all key EMAs on 1M/5M charts; 10D EMA at $536.14 confirms bullish daily trend) 1M Chart: Price testing resistance at $550.66-550.85 (critical breakout zone). 5M Chart: Bullish MACD crossover (histogram improving from -0.016 to near zero). Momentum Signals: 1M RSI: Cooling from 73.6 (overbought) to 69.7 (neutral). Daily MACD: Bullish histogram acceleration (+3.18). Volatility Context: Falling VIX (24.84 → below 5D avg of 28.83) supports bullish momentum.

2. Market Sentiment & Options Data

Max Pain ($545): Bearish magnet, but current price ($550.64) is 1% above, requiring a significant reversal. Options Flow: High call OI at $555-$560 strikes (bullish bets). Best R/R in $558 Calls ($0.59 premium, 1.34% OTM, high liquidity).

3. Directional Determination

Market Direction: Moderately Bullish (65% Confidence) Supporting Factors: