SPY Options Are Pricing a ±$9 Move Into August 21 — Our Read Says Neutral, the Chart Says Higher

State Street SPDR S&P 500 ETF Trust — ticker SPY — here's the setup heading into the back half of this week, current as of August 16, 2026. Shares closed at $776.03. Our read on the options market is neutral — genuinely split, not a hidden lean. The options crowd is pricing a window of roughly $766.70 to $785.35 by the August 21 expiration. That's the map. And the map breaks if SPY closes…

Read the full written analysis