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To: Since1998 who wrote (170070)	5/30/2014 8:15:24 PM
From: i-node	Respond to of 213182

>> Most options expire worthless. This is not correct. Most options are bought back, with a small number (~10%) getting exercised. Combined, options that are bought back or exercised amount to about 70% of those that are sold. Most option transactions don't involve gambling, however. Those who use them to gamble do often get creamed. I've used them both as a kind of gambling and as a safety measure, and while the gains from gambling can be crazy, so can the losses. As a safety measure they can make risky stock transactions much more sensible.