Options Market Commentary: S&P 500 Extends Best Start to Year Since 1987
Date: 2/4/2012
Options Market Commentary: S&P 500 Extends Best Start to Year Since 1987. Short interest on the (SPY) has increased from 286,188,371 on 12/30 to 313,206,118 on 1/13 a 9.44% increase.
StockMarketFunding believes the (SPY) is a retail short and that professional traders don't short the SPY to profit from drops in the S&P 500. They typically used advanced options strategies to buy SPX.X puts below the market or sell short deep in-the-money call options at elevated price levels.
The S&P 500 index is up 6.94% YTD & is approaching some "major resistance" levels at 1350. In this "live stock market" weekend training video we'll cover the recent bull rally which was done on light volume short covering.
Overall retail market sentiment has been bearish with all the European debt issues with Italy, Greece, Spain, and Portugal. Markets marked down in December and the retail short interest on the SPY was over 70% going into 2012. We've seen the shorts come off but then pile back in on a bi-weekly levels. They continued to be squeezed.
Notable stocks hitting 52 week highs
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