Today's TUT - Understanding Friday's Option's expiry setup

Friday's are an especially fun day for me because the market often gives you a nice little treat. That being the fact that quite often buying the Euro close and holding into the weekly options expiry can translate into a nice little stack of money for the weekend. Today's price action in USO (Crude Oil ETF) couldn't demonstrate the setup better. The market put in a very clean OTE long sweet spot tag (into the European close) and then reversed violently higher back up into the OTE short zone. Considering most Put options are written by institutions there is a vested interest for the institutions to take price out at/above a certain level. In this case, there was lots of incentive for them to take the market out above $36.50 and that is exactly what they did. Notice too, once the options expiry occurred, the original trend resumed lower.

If my charts help you, or you use my indicators...
please consider a BTC donation to allow me to
continue my work :

1EBttA56cWsgtsZn83VGiNT8si7inZV5Z5
& follow me on Twitter CRInvestor

Additionally, if you have questions about my indicators feel free to inquire as to when my next Google hangout tutorial session is scheduled so you can ask me in person...
(or go here: google.com/calendar/embed?src=YTJscjJkcDYxdnJlYThubGgxcGQ0cTBqOTBAZ3JvdXAuY2FsZW5kYXIuZ29vZ2xlLmNvbQ)