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The problems of this week to break decisively the resistance of 7.451 points that corresponds with the 38.2% of the entire correction from late February to mid-march you can have a clear cause: the expiration of options the next Friday, where they bet to see levels below the 7,000 points.
For the moment, the corrections that we are seeing these days in the bag european is not the concern of the investors that see it as from the USA the technological Nasdaq 100 does not corroborates and the S&P 500 and the Dow Jones 30 do not correct too much.
However, being Friday and encouraged by some of the statistics of hiv infections that are still breaking records in many countries of America, can do this afternoon a session very conducive to collect benefits and in that way get closer to the important levels of supports prior to the march investors in options.
Positions of options on the Ibex 35 of the face expiration next Friday
Really, the number of options call is not high to be a maturity of less not to match in month of close of quarter, but yes that is conspicuous by its forcefulness at the time of profiling what are the levels of control in the face at the expiration of the next Friday.
In addition, you must take into account the different strategies that can be giving in the market because we have investors who hold the position of purchased options call in these two exercises, and therefore are bullish and others are those who have conquered those options that you are thinking that these levels of exercise (around 6,900 and 6,700 points) are going to be left out of the money. That is to say, that we will see a maturity below those levels, and that therefore it will be definitely with the premium.
As they say, the die is cast. I don’t know that can happen, but yes we know where it’s going to produce the fight between the two sides.