Been glued to $SPY charts all week, ngl this market just refuses to pick a direction and my theta burn is very real right now.
The "keep skimming" price action is genuinely one of the most annoying setups for options plays. You're not getting a clean breakout, you're not getting a flush, just slow drift while IV compresses and your contracts bleed out quietly. Checked the options chain on MooMoo community and plenty of folks seem to be in the same boat.
Bear case feels overdone at these levels tbh, but so does chasing calls when the tape keeps grinding sideways like this. Anyone else just sitting on their hands or are people actually finding edges in this chop?
I'm holding but honestly not adding until I see something more decisive. Who's still playing $SPY premium here?
