Will the Lows Hold?
What are the odds the SPX lows hold? We can use the chain to determine what the probability a strike price will be in the money by expiration. That will tell us the probability of the lows being tested or broken. There's a lot of news coming out in the next week. The FOMC will make their first announcement since raising rates in December. Will they live up to their promise of 4 rate hikes in 2016 or has the market action of the last few weeks spooked the Fed?
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