Into expiry week we will be looking at the MarketProfile of 2 option charts which are controlling the range between them.
The 8300 Put added 22L shares in Open Interest during the week and for the current series is the top OI strike amongst puts.
There were price breaks below 8300 spot during the week but the OI did not crack.
Price in the above chart has not shown a reason to stay above 80 levels which would point to 8220 spot holding for the settlement. However 41 would have to break on the downside for the writers to feel safe..
In the event that 41 breaks on the 8300 PE we should see a move to 14 quickly and below 14 it should get written for 0.
The Open Interest at 8500 CE has grown exponentially during the week and those who wrote this Option at the start of last week wrote for 150 plus have seen a current value of the same at 20.
The price chart show 72 holding for last week’s writers through the coming week.
There is no threat for these writers till price crosses 37 next week. The target on this option is 0 for the coming week.