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Strategies & Market Trends : Options 201: Beyond Obi-Wan-Kenobe
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To: Ira Player who wrote (1037)6/25/2004 1:08:11 PM
From: Herschel Rubin  Read Replies (2) of 1064
 
IRA, thanks. I hadn't thought of that, but I've been in the same situation on the afternoon of options expiration day and the specialist is bidding a nickle below the intrinsic value, so it makes sense to buy or short the underlying commensurate with your put or call position and let it exercise.

I wonder if that explains why so many open interest contracts at various strike prices usually don't close out on expiration day (e.g. are the majority of options holders doing so?)
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