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To: skinowski who wrote (65582)2/6/2003 10:59:36 PM
From: the-phoenix  Respond to of 209892
 
LOL! To answer your question, check the CBOE volume figures for today in the 45 strike (wayyyy down the page):

quote.cboe.com

I posted to Shack this morning that there were 200,000 more puts bought at that strike this AM. Closing volume was 200,020. Guess who bought the other 20.

The other reason I got nervous: I'M THE ONLY OTHER TRADER IN THE WORLD DOING THIS????

EDIT - Yes, both sides of the spread would be counted in the volume.



To: skinowski who wrote (65582)2/7/2003 12:04:01 AM
From: mishedlo  Read Replies (2) | Respond to of 209892
 
yes totals counts. Naked selling of puts counts (although it is a bullish play), likewise selling of covered calls is a bearish play but that counts with calls. Naked call selling is certainly a bearish bet but that gets counted with calls.

Trade puts 5 times in a day closing out each time counts as 5 put plays although the OI does not change.

Thsese are all reasons that PC ratio is a poor substitute for OI analysis.

M


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