We always come into the quarterly contract roll date with little expectations. However, we did have enough of a gap and an early setup to give one trade a try. In the end, the market did what it usually does on options contract roll day…nothing at all. Market volume was a horrible 1.4 billion NASDAQ shares to go with it.
Net ticks: -7 ticks.
As usual, let’s start by taking a look at the ES and NQ with our market directional lines, VWAP, and Comber on the 5-minute chart from today’s session:
The opening bar set the UPT from above, so we took the short at A at 1541.75 breaking under that for the gap, but nothing happened. No re-entry as the market was clearly dead: