RE:RE:Option Expiry this FridayThank you very much for explaining this.
With 4.5M traded in the US and 1.8M trade in Canada, the big traders might just be able to push this to $7. I'm sure shorts aren't happy to have lost 1/4 of their portfolio since yesterday and "the flock of birds" appear to have switched to long?
This is quite an educational experience. They didn't teach me any of this stuff in my finance classes!
MOJOJONO wrote: A whole lot of puts are going to get executed end of day today OR big traders will be closing out positions or hedging. Not entirely clear, but if you check Montreal exchange you can see all the open interest on the puts throughout the strikes. Closest strikes with high open interest is $6 then $7. Option pinning = big traders want the stock to go just above the next strike price so puts they've written expire worthless or conversely calls written expire worthless. That being said we'll see how things continue as the day goes.