Playing against the large 300 level Call Wall

For expiration September 20th we have a very large call wall at 300 in $SPY and 3000 SPX. We're shorting here with a stop just above. Considering FOMC next week as well we think its a good place to sell some upside premium or scalp some shorts down to 297.5/295 support. Because the market is long a long of gamma we don't see a large selloff materializing before the FOMC.

Trade closed: target reached:

Wall turned into a pin, with Fed and OPEX Friday taking it down.