Remember 7900 OI buildup on friday? That buildup was for this upspike. Friday's late downspike seemingly was to sell 7900 puts. Clever guys, these market makers are. :lol:
There is a big event lined up on the 17th which the the entire globe is watching. There will be some caution prior to the event which is evident from the fact that the US markets like other markets including indian markets have been range bound over the past 2-3 trading sessions. When i say range bound I do not refer to 50-60 odd point intraday swings. Im talking about the lack of any clear trend on higher TF.
Sadly, while intraday trading we get accustomed to seeing only intraday moves and not the big moves that may come in the market. These big moves is what I am referring to.