SPY 0DTE Options Premarket 2025-04-03 (DS)

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0DTE SPY Trade Plan - April 3, 2025

Technical Analysis Synthesis

Price Positioning

5-Minute Chart: Price ($564.52) sits between 10EMA (564.11) and 50EMA (563.30), with 200EMA far below (561.09). Recent rejection at 5-minute resistance (565.52) suggests short-term bearish pressure. Daily Chart: Price below critical 10EMA (563.41) and far below 50EMA (577.28), confirming longer-term bearish structure.

Momentum & Volatility

RSI: Neutral on 5-minute (57.78) and daily (43.16), no extreme readings. Bollinger Bands: 5-minute price near middle band (563.13), daily price testing middle band (563.34). VIX: Rising to 22.08 (elevated volatility), supporting potential directional move.

Key Levels

Immediate Resistance: 564.56 (5-minute), 568.00 (daily) Immediate Support: 561.11 (5-minute), 560.97 (daily)

Market Sentiment Integration

News: Tariff risks and China downgrade inject bearish macro uncertainty. Options Data: Heavy put OI at $550-$555 and call OI at $570-$575, but max pain ($564.00) aligns with current price. VIX Trend: Rising volatility favors directional bets but lacks clarity on direction.

Directional Determination