Look for 10,380 and then 10,200 to be the next stops for bulls to mount a counter-move from. Do not rule out the 10,000 level by this time next week or sooner as well. We respect your right to do either, but our choice leans very heavily to the former scenario every time. If the current surge off recent lows has an upward future from here it must plant its feet in the sand very soon and begin the assault anew. Ratio listed is percentage of calls to puts or puts to calls respectively.
Support is factored from dividing puts by calls at strike levels beneath index closing price.
Resistance is factored from dividing calls by puts at strike levels above current closing price. A reading above 10.00 is considered viable resistance or support respectively within that general strike price range. Small specs are the general trading public with commercials being financial institutions. Commercials are historically on the correct side of future trend changes while small specs are not. Extreme divergence between each signals a possible market turn in favor of the commercial trader's direction.