I Can Almost Taste the Profits...

It was so, so close!  Are we on the edge of a precipitous market correction?  

The DJIA closed a mere 2.77 points higher, equating to a negligible +0.02%.  Meanwhile, the S&P and Nasdaq both closed in the red.  Whilst trading volume is still low, S&P closing volume increased to 86.32% of its 10-day average.  This is approximately 20% higher vs. daily volume over the past 3 to 4 days.  Is the spike in volume prescient of an imminent market decline?

I tallied up open interest on SPY calls expiring 16 March 2013 from the 153 to 157 strike prices.  837,680 call contracts are still open, representing about 10% of outstanding SPY shares.  On the put side, 380,696 contracts remain open.  Will these calls get cooked over the next few days or will my fun as a semi-bear be cut 'short'?  Bwahahahaha...


+0.07% SBA
-0.01% Roth IRA

+0.02% DJIA
-0.32% Nasdaq
-0.24% S&P 

+0.11% FTSE
-0.05% Eurofirst
-0.28% Nikkei
-1.04% Shanghai

+0.60% WTI
-0.52% Brent
+0.90% Gold

+6.14% VIX
-0.30% DJT