I'll Have 11,000 Please

If the overnight chart of the e-mini looks weird, it's because it is. Last night someone just HAD to have 11,000 e-mini contracts, so they plunked down $750 million all at once.

Overnight Futures 'Fat-Finger' $750mm Notional In One Minute

This means one thing for me: I'll be getting out of the remaining SPY 135 calls from 11/16. Moves like this are sometimes a sign that things are about to get weird. But conversely, they always seem to happen in the direction of the trend. In this case, the trend is still up.

I still think that 1425-1433 is a target, but I've held these options for too long as it is (decay is starting to be a bigger factor). They're up huge, and I'm not greedy. Besides, I've got other calls and some puts too. One side will win and the other may lose, but that's the way it is.

Yesterday's low of 1385.43 could possibly get tested, but I doubt it.