Aug. 7 at 8:25 PM
$VG
As expected, the weeks session came to a close, the options dealers holding long call exposure sold underlying hedge shares to remain market-neutral.
This mechanical selling created a temporary "drift" downward, pulling the price away from the
$13.50 resistance line and settling it right near
$13.26.
The Good News
$VG held its base, It didn't collapse back down to
$12.50 support.
Here's what I expect on Monday. The morning session to be a quiet in a "holding pattern" as the market prepares for BULLISH Tuesday (the day we're all waiting for) early morning earnings print.