SPY 0DTE Options Trade Plan 2025-03-19

SPY 0DTE Trade Plan for 2025-03-19

Technical Analysis Synthesis

5-Minute Chart

Price vs. EMAs: Current price ($561.02) is sandwiched between the 10-period EMA (560.89) and 50-period EMA (561.12), with the 200-period EMA (561.83) acting as overhead resistance. RSI: Neutral at 51.5, no overbought/oversold signal. Bollinger Bands: Price hugging the middle band (561.02), with upper resistance at 561.76 and lower support at 560.27. Key Levels: Immediate resistance at 561.28 (tested twice today), support at 560.58-560.61.

Daily Chart

Trend: Bearish structure with price below all key EMAs (10/50/200-day). RSI: Neutral at 39.78 (approaching oversold). Bollinger Bands: Price near the lower band (544.33), signaling extended downside.

Market Sentiment Integration

VIX: Falling to 21.56 (elevated but cooling volatility). News: Mixed headlines with bearish undertones (e.g., "S&P 500 Sell-Off"). Options Data: Max pain at $561.00 (current price), creating a gravitational pull. Key Signal: Heavy put open interest at $550.00 (13,976 contracts) suggests institutional hedging.

Directional Determination

Market Direction: Neutral/Unclear