SPY 0DTE Options Premarket 2025-04-11 (DS)
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SPY 0DTE Trade Analysis - April 11, 2025
Technical Analysis Synthesis
Price Positioning:
Current Price ($524.58) trades below all key daily EMAs (10/50/200) and slightly above 5-minute EMAs (10/50). RSI: Neutral on 5-minute (52.1), daily RSI (39.5) shows oversold conditions but no reversal confirmation. Bollinger Bands: Price sits below 5-minute middle band ($525.18) and far below daily middle band ($550.61). MACD: Bearish divergence persists on daily charts; 5-minute MACD shows tentative stabilization. Key Levels: Immediate support at $523.57 (5-min) and $505.57 (daily). Resistance at $529.43 (5-min) and $548.62 (daily).
Market Sentiment Integration
VIX (42.78): Elevated but falling, signaling potential volatility contraction. News: Mixed signals (cooling inflation vs. bearish narratives). Options Data: Max pain at $529.00 (4.8% above current price). Heavy put OI at $515/$510 and call OI at $530/$525.