4/24 SPY Trade Plan

ER fill week ahead

Readers,

The market makers are expecting a weekly move of $6.26 in SPY. That gives us a upper range of 418.46 and a lower range of 405.94.

1D SPY with MMs weekly expected move.

We are headed into the last week of April. Take a look at how April’s profile is shaping up. It looks very very similar to February's. we currently have a POC of 411.85 and Feb’s was 411.77. This range from 414.41 (current VAH), and 409.29 (current VAL), can be harder to trade, expect chop within this box. Ideally we need to leave this zone and create a imbalance above or below. We are so close to Feb’s VAH at 417.08, the bears are putting up a fight, will they defend?

1D SPY with monthly volume profile

4hr SPY with weekly volume profile

Last weeks VAH was 412.17, and it was a very key level last week same with last weeks POC at 410.67.

This week the VAH comes in at 413.61, the POC at 411.59, and a VAL of 411.11. We do have weekly gaps at 419.96 - 412.22 and at 404.55 - 404.35

Positive Gamma

423, 419-415, 412, 407.50, 403, 383, 380

SPY aggregate Gamma via Volland

Negative Vanna

422, 421, 414, 413, 412, 392.50

SPY aggregate Vanna via Volland

Key Levels Above (previous close 412.20)

412.50-413.13

• 412 negative Vanna and positive Gamma

• 413 negative Vanna

413.61-414.41

• 413.61 last weeks VAH

• 414 negative Vanna

• 414.41 current monthly VAH

415.15, 415.72-416

• 415 positive Gamma

417.08-418.50

• 417/418 positive Gamma

• 417.08 is Feb’s VAH

• 418.46 is the weekly MMs expected high

1D SPY with key levels above

Key Levels Below (previous close 412.20)

411.85, 411.59, 411.11, 410.90

• 411.85 is the current monthly POC

• 411.59 is last weeks POC

• 411.11 is last weeks VAL

• 412 negative Vanna/postive Gamma

410.15, 409.70, 409.29

• 409.29 current monthly VAL

408.80, 408.50, 408.25, 407.80

• 408.25 is a naked VAL

407.50, 407.12, 406.80

• 407.50 positive Gamma (close to 0 Gamma)

406-405.94, 405.40

• 405.94 is the weekly MMs expected low

1D SPY with key levels below previous close.

Happy Trading,

—WICK—

To cover our basis…

Welcome to my Substack where I provide a daily SPY trading plan to help guide my intraday trading. The purpose of this letter is not to advice you on your trading or investment decisions. I am simply documenting my daily trading plan for myself to help with planning and execution. These are simply my opinions and the data sourced from the likes of vol.land, TradingView, Quantdata.us and others. The stock market is risky, gains are not guaranteed. This is not about getting rich quick, but learn to educate yourself and make the necessary financial decisions on your own. This is not financial advice.