Bullish Shadows Over SPY, Bearish Vibes For QQQ: Options Activity Signals Mixed Market Sentiment Pre-Fed Announcement
Portfolio Pulse from Priya Nigam
Market sentiment was mixed ahead of the Fed's interest rate decision, with bullish activity slightly outpacing bearish activity in SPY and narrowly bearish sentiment on QQQ. SPY saw a buyer of 660,000 June 437-calls, while QQQ had buyers of 218,000 June 360-puts.
June 14, 2023 | 12:28 pm
News sentiment analysis
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NEGATIVE IMPACT
Overall sentiment was narrowly bearish on QQQ, with buyers of 218,000 June 360-puts expecting the ETF to move lower by the end of the week.
The overall sentiment on QQQ is narrowly bearish, as evidenced by the purchase of 218,000 June 360-puts at an average price of 60 cents per contract. This indicates that investors expect the ETF to move lower by the end of the week. Despite the mixed market sentiment, the bearish activity in QQQ suggests a negative short-term impact on the ETF.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Bullish activity slightly outpaced bearish activity in SPY, with a buyer of 660,000 June 437-calls expecting the ETF to move higher by the end of the week.
The bullish activity in SPY indicates that investors are expecting the ETF to move higher by the end of the week. This is supported by the purchase of 660,000 June 437-calls at an average price of 43 cents per contract. The overall market sentiment is mixed, but the bullish activity in SPY suggests a positive short-term impact on the ETF.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100