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Dec 7th, 2009: Afternoon Update – Keeping the Bullish and Bearish Options on the Table

Posted by pugsma on December 7, 2009

Still no decisive break either way.  I wanted to show my 15-min chart, so that you can see both the bullish and bearnish near term options.  The bullish option is a very slow grind towards 1125 through options expiration (Dec 18th).  This would do the most damage to those holding SPY PUT options, as the time decay would crush the options.  The other more bearish near term option is a fairly rapid drop to the 1170 area over the next few trading days.

15-min Chart:

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