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Strategies & Market Trends : Wings-FPT -- Ignore unavailable to you. Want to Upgrade?

To: OX who wrote (56)	8/17/2000 1:03:50 PM
From: Louis V. Lambrecht	Read Replies (1) \| Respond to of 124

OX - OI figures flaws, completely agree. Too many assumptions as "most writers are professionals" or "most options expire worthless" or "most index options traders are professionals" are untrue. Also open interest only is computed in the night after the session, so impossible to compute volumes and "day-1" OI. Day volumes only indicates volumes, not necessarily new contracts as a part of that volume consists of unwinding positions. I merely wanted to caution for a use of that MP indicator. On the other hand, MP can be successfuly used to play some options in the last week before expiration, if the market is dull or sleepy.