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Strategies & Market Trends : APMP (formerly APM) -- Ignore unavailable to you. Want to Upgrade?

To: Darth Trader who wrote (7900)	10/30/1997 9:51:00 PM
From: marc chatman	Respond to of 13456

DT, I have to admit that I rarely play options and am just a novice. I got my info from Lawrence McMillan, McMillan on Options Chapter 4. He doesn't really give a definition of volume, but he does refer to it as "the amount of trading in a stock's options," which for predictive purposes is compared to the average number of options traded on that stock. His examples seem to use daily volume figures, like the ones published in the WSJ. My guess is that it includes all trades regardless of whether it's a day trade, newly written option, etc. He looks for big deviations from the average. Wish I could be more precise, but to be honest I haven't finished the book. I probably should before trying to talk about options (and especially before I do any more trading in options).