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To: Win-Lose-Draw who wrote (128588)1/28/2006 5:52:28 PM
From: Shack  Read Replies (1) | Respond to of 209892
 
I don't completely disagree. Doesn't change the fact that I have never, in the 8 years I've been trading, seen that many puts end up ITM.

by Tuesday the mass of puts at 41 will have disappeared

Possibly. As we've discussed, O/I follows price, not the other way around. And yes they could all be hedges. But I find QQQQ O/I is "stickier" than that, at least from my anecdotal observations. Just an academic discussion here, I would never trade based on this.