Jerkin' it with Gherkinit S3 E5 Live Charting for 6/18/21
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| Author       | Source       | 
| :-------------: |:-------------:|
|  [u/gherkinit](https://www.reddit.com/user/gherkinit/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/o2nzmx/jerkin_it_with_gherkinit_s3_e5_live_charting_for/) | 

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[Discussion 🦍](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Discussion%20%F0%9F%A6%8D%22&restrict_sr=1)

Happy Quad-Witching Superstonk!

What does this mean?

Historically nothing, but it's fun to talk about :

-   Quadruple witching refers to a date on which derivatives of stock index futures, stock index options, stock options, and single stock futures expire simultaneously.

This doesn't necessarily infer market volatility but we could see increased arbitrage and volume today

I expect to see a lot of near OTM puts to get loaded up today with the ultimate goal to keep us trading at or near this weeks max pain of 220.

Hopefully by close of market today we hear some confirmation on the ATM offering, regardless I expect lots of volatility next week as the Russel rebalancing occurs.

If you guys haven't had a chance to [Check out this weeks forward looking TA](https://www.reddit.com/r/Superstonk/comments/nz1x01/jerkin_it_with_gherkinit_forward_looking_ta_for/)

Join us in the Daily Livestream <https://www.youtube.com/c/PickleFinancial>

Or listen along with our live audio feed on [Discord](https://discord.gg/HbqnUVsSrH)

(save these links in case reddit goes down)

Historical Resistance/Support:

116.5, 125.5, 132.5, 141, 145, 147.5, 150, 152.5, 157(previous ATM offering), 158.5, 162.5, 163, 165.5, 172, 174, 176.5, 179, 180.5, 182, 183.5, 184.5, 186, 187.5, 190.5, 192, 195, 196.5, 197.5, 200, 209, 211.5, 214.5, 218, 226, 232.5, 235, 242.5, 250, 255, 262.5, 275, 285, 300, 302.50, 310, 317.50, 325, 332.5, 345, 350, moon base...

After Market

Closed down from max pain. Today was as uneventful as expected, but at least we avoided the put gamma below 200. Stay tuned for my DD coming out this weekend and I will see you all bright and early Monday for another week of hopefully less sideways trading.

[![r/Superstonk - Jerkin' it with Gherkinit S3 E5 Live Charting for 6/18/21](https://preview.redd.it/p8j0p5uvy2671.png?width=702&format=png&auto=webp&s=fe1f7626d8e6101bd8a73ef0e098099d6b544e0a)](https://preview.redd.it/p8j0p5uvy2671.png?width=702&format=png&auto=webp&s=fe1f7626d8e6101bd8a73ef0e098099d6b544e0a)

- Gherkinit

Edit 6 3:05

When people ask why we get dragged around by the market so much

[![r/Superstonk - Jerkin' it with Gherkinit S3 E5 Live Charting for 6/18/21](https://preview.redd.it/w202yz6lo2671.png?width=1638&format=png&auto=webp&s=8d4f27902d3c301af955efb9f6c19c5aecc103b5)](https://preview.redd.it/w202yz6lo2671.png?width=1638&format=png&auto=webp&s=8d4f27902d3c301af955efb9f6c19c5aecc103b5)

Edit 5 2:22

Possible climb back to max pain intiated

[![r/Superstonk - Jerkin' it with Gherkinit S3 E5 Live Charting for 6/18/21](https://preview.redd.it/gfhegf8tg2671.png?width=1632&format=png&auto=webp&s=ec376dc9088c4330d1f227c46b06f1de36076f47)](https://preview.redd.it/gfhegf8tg2671.png?width=1632&format=png&auto=webp&s=ec376dc9088c4330d1f227c46b06f1de36076f47)

Edit 4 1:33

Still nothing this is just a slow day. The market is volatile but holding. GME no volume and just getting pulled around by market pressure. I expect closing at or near max pain is the best possibility for the day.

[![r/Superstonk - Jerkin' it with Gherkinit S3 E5 Live Charting for 6/18/21](https://preview.redd.it/f0hkiy3f82671.png?width=1647&format=png&auto=webp&s=143597e2dc17cd2e964682c49ced24866a26b8c0)](https://preview.redd.it/f0hkiy3f82671.png?width=1647&format=png&auto=webp&s=143597e2dc17cd2e964682c49ced24866a26b8c0)

Edit 3 11:47

Slow climb back up to VWAP market down but holding. The volume is awful I wouldn't be surprised if we just end near or below max pain for the week.

[![r/Superstonk - Jerkin' it with Gherkinit S3 E5 Live Charting for 6/18/21](https://preview.redd.it/xlxidck8p1671.png?width=1655&format=png&auto=webp&s=76034f5e376e85b7f9bf8c23e708210f999ebdbc)](https://preview.redd.it/xlxidck8p1671.png?width=1655&format=png&auto=webp&s=76034f5e376e85b7f9bf8c23e708210f999ebdbc)

Edit 2 10:20

SPY is stabilizing for now GME running down on non-existent volume just hit 1M for the day. I'm not super worried about the price till below 210. After 210 there is a decent amount of put pressure.

[![r/Superstonk - Jerkin' it with Gherkinit S3 E5 Live Charting for 6/18/21](https://preview.redd.it/xt11irnv91671.png?width=1455&format=png&auto=webp&s=79705e994e124f5f94b71710269e0bbdb396efd5)](https://preview.redd.it/xt11irnv91671.png?width=1455&format=png&auto=webp&s=79705e994e124f5f94b71710269e0bbdb396efd5)

Edit 1 9:48

So GME just absolutely sideways. The market seems to be holding on. Looking to see if the spy slips 417.

[![r/Superstonk - Jerkin' it with Gherkinit S3 E5 Live Charting for 6/18/21](https://preview.redd.it/na4ubqe241671.png?width=1367&format=png&auto=webp&s=2819b1c336c022481d0c342bb21f67bbb8c3aca6)](https://preview.redd.it/na4ubqe241671.png?width=1367&format=png&auto=webp&s=2819b1c336c022481d0c342bb21f67bbb8c3aca6)

Pre-Market Analysis

Pre-Edit 2 8:40

The spy has officially entered it's correction range I was waiting to confirm this. This looks at least moderately serious. If it crosses below that lower support we may be looking at a flash crash type scenario. This could benefit GME as it can force margin calls. Remain calm while GME might not have a crazy quad-witching the rest of the market could.

[![r/Superstonk - Jerkin' it with Gherkinit S3 E5 Live Charting for 6/18/21](https://preview.redd.it/6c7g5u7ur0671.png?width=1636&format=png&auto=webp&s=0e2fbf87b4ddf1000d1bd554b334f0cf3011f462)](https://preview.redd.it/6c7g5u7ur0671.png?width=1636&format=png&auto=webp&s=0e2fbf87b4ddf1000d1bd554b334f0cf3011f462)

Today will either be pretty flat with some downward pressure to maintain max pain . The shares borrowed yesterday have yet to be returned so shares available to borrow stands at 1.015M (1M from Fidelity). Pre-Market is pretty flat today Volume at 16k (8:15am EDT). With the broader market issues (SPY and RRP) and MSM pushing AMC this week we could just see more sideways trading till some sort of announcement is made.

[![r/Superstonk - Jerkin' it with Gherkinit S3 E5 Live Charting for 6/18/21](https://preview.redd.it/bzqlutbkn0671.png?width=1641&format=png&auto=webp&s=55ab11d40c695363ce7da9d8e5af4df14ae91ba8)](https://preview.redd.it/bzqlutbkn0671.png?width=1641&format=png&auto=webp&s=55ab11d40c695363ce7da9d8e5af4df14ae91ba8)

One other note the cup & handle from this [weeks DD](https://www.reddit.com/r/Superstonk/comments/nz1x01/jerkin_it_with_gherkinit_forward_looking_ta_for/) looks like it is nearing it's breakout on the 1D and the lower Bollinger band has moved back inside the Keltner channel (indicating higher probability of breakout) .

[![r/Superstonk - Jerkin' it with Gherkinit S3 E5 Live Charting for 6/18/21](https://preview.redd.it/dublvdplo0671.png?width=2038&format=png&auto=webp&s=f0bf858eaf343e7cf6d680bd5a8b0ebfae95801b)](https://preview.redd.it/dublvdplo0671.png?width=2038&format=png&auto=webp&s=f0bf858eaf343e7cf6d680bd5a8b0ebfae95801b)

Cup & Handle on 1D timescale

** Although my profession is day trading, I in no way endorse day-trading of GME not only does it present significant risk, it can delay the squeeze.*

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