SPY 0DTE Options Trade Plan 2025-06-23

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SPY 0DTE Analysis Summary (2025-06-23)

Market Analysis Summary

1. Technical Analysis Synthesis

Current Price: SPY is trading at $599.10, approaching key resistance at $600.00. 1-Minute Chart: Price above 10 (595.18) and 50 (594.71) EMAs, indicating short-term bullish momentum, but approaching overbought levels (RSI at 63.39). 5-Minute Chart: Neutral momentum with the price trading below its EMAs. Bearish MACD. Daily Chart: Bearish trend indicated by the MACD histogram and RSI, suggesting potential for a downtrend. Key Levels: Immediate support seen at $596.00 (max pain), with resistance at $600.00 and $602.67.

2. Market Sentiment Integration

VIX: Elevated at 20.62, indicating increased market volatility, which is bearish for equities amidst current geopolitical tensions. News Impact: Geopolitical concerns (Iran) contributing to a risk-off sentiment. Put vs. Call Sentiment: Puts volumes are higher around critical strikes ($595 and $596), indicating bearish sentiment.

3. Directional Determination