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To: puzzlecraft who wrote (92172)	1/20/2001 1:00:23 AM
From: vc21	Respond to of 152472

You shouldn't be concerned with 9 out of 10 options expire worthless. What should concern you is that 9 out of 10 options are at one point profitable. Greed kills.

To: puzzlecraft who wrote (92172)	1/20/2001 1:35:27 AM
From: Uncle Frank	Read Replies (1) \| Respond to of 152472

Did you weight your calculations by open interest? uf

To: puzzlecraft who wrote (92172)	1/20/2001 10:04:46 AM
From: jazzcat2000	Respond to of 152472

Option myths-- A couple of months ago on CNBC or Bloomberg, an option firm gave numbers dispelling certain "myths". The one I remember is that less than 50% of options expire worthless as opposed to the 90% figure commonly tossed around.Yesterday, unfortunately, I hit the 100% mark.

To: puzzlecraft who wrote (92172)	1/20/2001 12:07:03 PM
From: Kayaker	Read Replies (1) \| Respond to of 152472

9 out of 10 options expire worthless. "Many people have heard and even repeated the statement that '90 percent of all options expire worthless'. It's unclear where that got started -- some say from a study done back in the 1940s regarding the illiquid over-the-counter market at the time. This statement is patent nonsense with respect to listed options....I have had several hundred thousand contracts that were held until expiration. I have no way of knowing how many were exercised or assigned and how many expired worthless, but my general feeling is that the count is about 50-50. That is, about half were in-the-money at expiration, and half were not. I do know, with a certainty born of 20 years of experience, that nowhere near 90 percent expired worthless." --MacMillan on Options, Lawrence G. McMillan, pages 16-17.