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We finally entered the Max pain phase of this month's Quad-witching cycle. After a new high made, we have been chopping and making lower highs. So far, the 760 price level holds. We shall we what happens next week. For June 5th(today)- its downward skew. The spreads are horrible on both sides and puts look expensive. This means the market is taking protection instead of direction. Cheap OTM calls and expensive puts all together isn't a normal sign. IV is very high. The MM is -GEX and any small movement will trigger buy rips and sell dips. lets see how the market does today. Lets see if there will be strong inflows.