TRACE App From SpotGamma Unveils Support Floor After SPX Drops 1%

Tired of chasing the market or staring at random chart patterns? SpotGamma’s newest tool, TRACE, is the best way to see real time zones of support, resistance, and volatility for the largest market in the US - the S&P 500. How does TRACE do this? By tracking OPTIONS FLOWS… Let us show you.

On August 22nd, right at the open, TRACE detected a ceiling on the market limiting upward price movement. Below, there was no support visible, revealing that it wouldn’t take much momentum for the market to drop sharply. By early afternoon, the SPX had fallen nearly 1%. So what now? Was the move done or would it continue…? At 1:40pm, TRACE unveiled that a supportive floor had been created by newly established options positions. With this new floor in place, volatility declined, and the market flatlined into the close.

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*Note: This content is intended for general information and entertainment purposes only. No mention of company names, trading strategies or illustrative examples constitute investment advice. SpotGamma advises you to seek investment advice from a licensed professional.

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