Yesterday morning I posted a chart that is filtered on 100 contracts of more.
It showed an overwhelming skew of trades on the buy side vs. the comprehensive market volume analysis which included the public. We had a lot more buying on the commercial side then the public. Today there are more public buyers then commercials. We are delta neutral on the commercials and we have a net delta of about 19K on the trades less than 100 contracts . So unless the commercials show up we might be unable extend the range much further. As far as shorts, that is off the table for me right now until we see the selloff like we saw @ the 90-91 area (8:00 AM PST bar) from the commercials. So far the commercials has been quite since 8:00 pst. Currently it feels like we have no paper. Is the pit half empty?
Below is the volume for contracts above 100.