SPY 0DTE Options Premarket 2025-05-01 (DS)

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SPY 0DTE Trade Plan for 2025-05-01

Technical Analysis Synthesis

Price Positioning:

Trading below 5-minute resistance (555.04) and daily 50 EMA (554.67), but above key 1-minute EMAs (554.71). 1-minute RSI (60.05) shows cooling bullish momentum; 5-minute RSI (73.6) is overbought. Bollinger Bands: Price near middle band on 1-minute chart, suggesting potential reversion to the mean. MACD: Bearish divergence on 1-minute (histogram declining), weakening momentum on 5-minute. Key Levels:

Immediate Resistance: 554.55 (1-minute), 555.04 (5-minute). Immediate Support: 549.38 (1-minute), 549.48 (5-minute). Volume:

Spike in 1-minute selling volume (6.78M vs. 138K avg) signals potential reversal.

Market Sentiment & Options Data