SPY 0DTE Options Premarket 2025-05-02 (DS)

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SPY 0DTE Trade Plan for 2025-05-02 Directional Bias: Neutral/Unclear

Technical & Sentiment Synthesis:

Conflicting Signals Across Timeframes:

1-Minute Chart: Oversold (RSI 18.2) with price below all EMAs, but bearish MACD acceleration. 5-Minute Chart: Deeply oversold (RSI 24.7) with bearish momentum (MACD histogram -0.30). Daily Chart: Bullish MACD crossover and rising RSI (61.0), but price remains below upper Bollinger Band ($568.91). Market Sentiment:

Positive jobs data (177k payrolls) supports bullish bias, but geopolitical tensions (Iran oil sanctions) add uncertainty. VIX at 23.8 (elevated but falling) suggests moderate risk appetite. Max Pain ($551) is $7.47 below current price, creating gravitational pull risk. Options Data: