levels let's look at the flows Kevin Green joins me in the options Corner kg we are in day two nice little Stampede do you like it yeah definitely uh if we can actually close at the 5600 level today that would actually be an ultimate win here for the Bulls Oliver and that would probably get us to that next area of resistance which is going to be 5650 that's where we actually did see a significant amount of roll up and roll out activity not only for tomorrow but also going into next week that's ultimately bullish but I do have to say the put buyers they're still there it's not as aggressive as we saw last last week but we are still seeing some put buyers out there still hitting the 5,500 puts and then there was just an order that just came through for the 5430 puts expiring in two weeks so I I think uh for for now uh we are in a really good territory here if you are a bull we are only a couple of points maybe 40 points away from trying to break the neckline of the uh that double top that we had uh and if we're able to break through that on a very large volume we might be able to continue to inch higher here going into the remainder of the year yeah the um levels above 56 I mean it seems like that's uh gonna be a Battleground right like that could be a tough one there because we were stuck there for what a week yeah so uh here's the flows that I've seen come through today to give you a little bit of contact so 5650 is the first one that we're seeing a lot of activity on tomorrow's expiration alone we saw about 11,000 contracts being traded now you might say well that's not a lot of contracts but you got to also remember 65 almost 70% of total options being traded for the SPX are now in zero DTE options so that's actually a considerable amount uh to be rolling up and rolling out uh and and we still have 28 minutes left to go in the close uh we did see somebody also hitting the 5720 that's going to be a little bit farther out late October so that's once again a little bit bullish and we're talking about these are being called sellers so these are really institutions that are colloring positions and when we see uh IND idual and institutions rolling up their calls their short calls that means that they're trying to give themselves some room for their Equity portfolios to be able to move higher as well so ultimately that's bullish but we have not once again we have not seen the put buyers completely fall off the map here there's still buyers that are out there it's just not as aggressive as we saw last week well that's probably good making a two-way trade uh keeping it alive a little bit uh if uh not everybody's on one side of the boat it doesn't sound like they are at this point no not yet I mean you did a nice little uh downside move when it came to the Vic so you're you're starting to see the the skew the downside skew starting to level off here for now obviously we do have tomorrow it's going to be a Friday expiration we do have the University of Michigan uh sentiment data that can actually move markets either to the upside or downside but I would say it's a little bit more leveled out uh than what we've seen in the past what about the like 1 p.m slip at 1:30 PM slippage today what was up with that uh yeah that's a really good question you know seeing that type of there a weird candle there we could barely see it actually sorry to interrupt you but it's right in the green so folks following along might have trouble seeing it but yeah it's kind of a wicked little candle yeah so you could have a situation so the 5600 uh level right now if you're looking at actively uh traded contracts on today's session for today's expiration we're already at 108,000 contracts being traded that's that's probably the largest that we've seen in in a couple of weeks there so there's definitely a wall uh that has been uh uh that it's been approached and we might have seen just uh an unwinding of that 5600 uh position a little bit and selling down but also on that chart too and I know it's a little bit difficult to see but if you look at that 20 period moving average on the 15minute chart I continue to bring this up if you look at that candle the bottom Wick of that candle literally touched that 20 period moving average and we bounced right back off of that which is why it's a very key indicator if you're an intraday Trader or if you're a swing Trader here uh and so I think that was just more of a a decoupling event that took place we could have another a fail here I I don't want to kind of be too overly bullish what you don't want to see is an unwinding of those calls and then we start to move to the downside if we were uh what I would focus on is the 5585 level that is actually an area where those call buyers earlier this morning still have a significant amount of uranic value and there's a lot of uh volume there and so if dealers really wanted to try to squeeze that premium they would try to sell it off and try to pin the market at 5585 oh nice cool good eyes like that uh all right um because that's kind of one of those levels that's like it doesn't show up anywhere on the chart you know from a technical perspective that's like the pure gamma stuff basically you know thinking about where you might find that near-term support if we slip a little bit and that's not too far off that would still be a good day right if we slip back down what like 10 12 points yeah I mean uh if you kind of look at it a good day would be for us to close above 55 uh 5558 exactly anything positive basically exactly yeah so if we go to that volume chart you'll actually see some of these intraday levels and I do highlight on there that 5585 unwind risk that we could have in the market uh but yes uh there is actually a trend line uh that we have on the uh the today chart here that where we would hit would pretty much coincide with that 5585 level or even if we went down to hit 5575 that would be ultimately a win and we could actually keep this bullish Trend that we've seen not only for today but over the last two uh three Trading sessions okay all right uh good day here excellent day if we end like where we are right now good day as long as we just don't give anything thing back which seems hard to imagine I mean look anything can happen 40 minutes but or 20 minutes but we've got you know pretty good buffer here after the fact that we didn't fade it down early that to me was kind of like the test especially because it was a little choppy early on after a big move like yesterday the huge range from yesterday that we barely had any downside range that pretty impressive yeah it it is so let's let's talk about going forward for next week I think that I think highlighting that is going to be very key here because it's seems like it's all you know sunshines and rainbows right now but we're not well I also don't think sentiment huge either to be honest I feel like if we made the move it was probably going to be through yesterday and today yeah I would say though the the cinamon indicator for me right now is actually the zero DTE volume that we are seeing that is different we're not going into days where it's been you know 45,000 contracts are being TR for the top contract we're talking about 2x that I see okay so you're just saying there's a lot out there and that's the only thing tomorrow on the agenda okay yeah you have a lot of speculators that are now saying okay I want to dip my toe in I'm I'm willing to put in a little bit more risk on these speculative trades on an Inay basis and so I would say the sentiment is there but what I want to highlight is a couple of things one that move to the downside you talked about intraday that could also be a liquidity Gap that we have and I would expect that we will see a lack of liquidity in the market between between now and the FED meeting on Wednesday you have institutional traders that are actually rolling their Emin S&P futures from the September contract to the December contract we highlighted it earlier this morning the cost of trade or that roll cost is the highest that we've seen uh in in two years Oliver so if you have a a widespread there um that means that you have gappy markets and the reason why you have WID spreads lack of liquidity so if we have a lack with liquidity we can actually have days like yesterday and days like today and so expect that same type of action just mechanically going into next week you have options expiration on Friday you have the am settled options you have the the Futures the Futures options all that's going to transpire there on Friday you're going to have volatility risk you're going to have time premium risk there's a lot that's actually still going on so I would just say for those Bulls out there U you know we had you had a good run and hopefully we continue to have a good run but still stay defensive until we clear all-time high still stay defensive all right I've never been so happy to be wrong maybe we do get some big action around sentiment tomorrow I'm just in it for the action so I love to hear it we got a lot of things on the highway it sounds like tomorrow that could be you know very much live so appreciate it Kevin green good announces