max pain: SPY 110 QQQQ 45 we are less than 1% away and 2 days to go. according to my limited understanding max pain should be a decent attractor when the underlying is so close to it.
Tomorrows job report will move markets especially if the number is 495k+, 500,000+ and the markets are headed further down rather quickly.
Somewhere in cyberspace is a blog entry from someone who studied the day after op ex Friday minutely, and decided that there was no correlation between a down op ex Friday and an up Monday after, or vice versa. So, no.
And 500,000 it was, futures turned south just as expected. Dow futures were up 50+ now down 15. Going to be an interesting day, let's see if the bulls can turn this market back into the green.
today is a good illustration of problems with short straddles: a large market move and those short straddles don't look so good.