Benzinga's Options Outlook for the Week of June 10

SPY action via the options was pretty much as expected and in line with previous mentions in the weekly options outlook. Bulls and bears were chopped around as GS JPM BAC couldn't really find any types of bids throughout the week, while techs surprisingly fired off very hard in late week action, with AMZN GOOG and PCLN leading the way. Long call money was all on the table for anyone that believed the move. We'll be looking forward to any types of blowoff tops this week and to fade into the next couple weeks, unless the banks show some sort of sustainable recovery. We'll be on the watch for the single horse that moves well, but expect more chop in the near future for the next couple weeks.