0️SPY - Zero Trend - High Volume - 9/27/2023

Case Study: No clear open session trend, but high option volume brought extreme volatility with 0DTE max gains of 549.79% BULL and BEAR 341.20% on 9/27/2023.

Summary:

On September 27, 2023 we opened higher versus the previous day and it appeared we would see a bounce in SPY. The open session had mixed flow (3x BULL BOMB + 1x BULL LOTTO to 2x BEAR BOMB) but observed volume was higher than the 7-day average.

ZERO TREND HIGH VOLUME = look for swings + cluster bombs but do not have a bias towards the bull or bear side.

The price action was incredibly volatile with 100%+ returns to be found on both the bull and bear side.

OPEN - ZERO TREND + HIGH VOLUME

MIDDLE - DOWN with perfect tags

FINAL - Volatile move up