S&P 500: Options Market Eyeing Fed Decision Trading Levels

The S&P 500 is in focus as the Fed makes its decision. The options market shows crucial trading levels. Investors are watching closely.

The S&P 500 is doing well despite the important debt-ceiling vote this week. The Senate voted on Thursday, with 63 people in favor of the bill and 36 against it. The index is now trading close to the highest point it reached in August 2022.

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Investors thought the House and Senate would pass the debt ceiling. They knew it would be close, but didn't expect a default.

Investors are keeping an eye on the Federal Open Market Committee meeting on June 13-14. This is where the Federal Reserve will announce its June policy decision and give hints for future interest rate changes. The options market outlook for the S&P 500 index can help analyze important trading levels.

The S&P 500 went up by 0.99% on Thursday to close at 4,221.02. Out-of-the-money Call options expiring on June 16 are popular, with the 4,300 Call strike having the most open interest. This suggests that the 4,300 level may be a tough resistance to overcome in the near future.

There's a downside. $4,150 Put strike accumulates open interest. So, the level could support in case of the short-term sell-off.

Open interest levels give an idea about support and resistance. But big news or macro events might change stock prices. This can also change open interest levels.

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