Aglo Playing Ground + Quad Witching Hour

19 Jun 2020

Given the OpEx tomorrow and the record number of options expiring, the MMs have brought out all the stops with their algos, which have neatly arranged the chart into a systematic bear pennant. This would line up well with cash opening in which pension funds and dividend hunters will likely sell-off their shares, but chances are that the MMs will only allow for a consolidation slightly below to create a lower low/lower high, but also to prevent puts from expiring in the money and to avoid a gamma flip. Most of the action will most likely be seen next week.

19 Jun 2020

Nota

I suspected a false breakout on the top and that's exactly what we saw, but now we're seeing strong support around 3090. There's a point here at which the gamma flips, so it'll be interesting to see if the MMs are able to hold back the selling. I suspect a waterfall if it breaks though.

19 Jun 2020

Nota

Reached the target right after close lol