A look back at 9/11/24 SPY option trade 1000s of percent
Nov 12, 2024
So, let's see how the SPY fared. The price came down today to retest the double bottom. You're talking about this picture here—a perfect double bottom when the volatility turned down, and then the markets turned up.
So that's really what you're looking for, you want to retest the price and to have the technical picture advanced because the indicator being a moving average the MACD cannot catch up with the price when it moves so quickly
****** That's what forms the divergence ******
So we had the SPY go from right around 540 to 550 something, the 550 calls were 3 cents and went to 5 dollars and 46 cents or something like that.