This week had a little bit of everything. The FOMC meeting came in mostly as expected, with Powell keeping a careful tone about inflation progress while leaving the door open for a rate cut path later this year. The market took it as a mild green light for risk assets, especially after the data from earlier in the week showed some cooling in consumer spending and softer job numbers. That combination gave traders hope that the Fed is closer to a “hold and wait” stance rather than tightening again.

At the same time, the U.S. and China announced progress on a limited trade deal that included a one year suspension of certain tariffs and a few commitments on rare earth exports. It’s not a huge breakthrough, but it helped ease global sentiment and pushed some of the cyclical and industrial names higher. Together, those two stories, monetary policy stability and a small improvement in geopolitical tone, gave the market a bit of breathing room after a rough October. Volatility pulled back, and a lot of names started testing key support levels where dealer positioning starts to matter again.

With all that playing out in the background, I’ve been watching a few names that are sitting right at key put support levels. These spots tend to attract market maker buying since they need to hedge their short positions as puts lose value. In practice, that can create small relief moves or even short squeezes when the broader sentiment turns slightly positive.

Below are five charts I think are worth keeping an eye on right now. Each one is parked near strong support, showing potential for a near term bounce if the tape cooperates.

EA had a sharp breakout earlier in October, then pulled back into what looks like a falling wedge sitting right on top of put support. That’s often where market makers start buying the underlying to hedge short gamma, which can create a small reflex bounce. The stock also held the previous breakout zone from the bullish pennant that formed in September, so there’s still a clear higher low structure in place. If this area around 197 to 200 holds, I think it could easily retest the 205 zone, which also lines up with the first GEX level and short term call resistance.

Adobe’s been in a long consolidation phase, and the recent move out of the falling wedge looks encouraging. The chart shows three clear bottoming attempts and a strong bounce right off put support near the 330s. When a name like this lines up GEX and HVL levels that tight, it usually means there’s real dealer activity balancing the options book. If that holds, there’s room for a push back toward 370, and possibly a bigger measured move toward 400 if the broader tech rally continues.

UNP is one of those quiet setups that tends to get overlooked. After a double bottom near 200 earlier this year, it’s now testing the same GEX and HVL zone again, right around 217 to 220. That’s a typical range where market makers step in to buy shares as their short puts decay, which often leads to a grind higher. The RSI also shows a little uptick from oversold territory, suggesting momentum might start turning up. A rebound toward 230 to 235 seems reasonable if this level holds.

Boeing continues to look weak, but that’s also what makes the setup interesting. The recent drop out of the rectangle pattern brought it straight down into a major put support cluster near 200. Dealers are likely long volatility here, and if they start hedging by buying stock, we could see a short term rebound. The gap between 200 and 210 is an important area to watch. If it closes above 210 again, I think there’s potential for a decent snapback toward 220 or even 225.

ADP had one of the cleaner technical breaks lately. It fell straight from the upper end of a rising wedge and landed right on a multi layered put support zone near 260. That’s typically where the downside slows down as gamma turns positive again. The setup here looks oversold on the RSI, and the structure suggests at least a short term recovery bounce. If the market holds up, a move back into the 270 to 275 range wouldn’t surprise me.