Market takes the hint from the high SKEW and preps for a possible move to 2250 for expiration.
A rapid build of put open interest at SPY 225 yesterday creates a potential magnet and a floor for a bounce if it holds, or an edge for a more severe sell off to occur if it breaks.
Notice that we are potentially holding a support angle, and we still have a cluster of sheduled peaks to negotiate for early next week.
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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.