T/A ETF AND INDEX

[farooq]

Buyer may have sold 39, 40 and 35 puts against that position.
The open interest on September never went up to 400,000, at least one day it should show, That famous trade was 200,000, Big position holder mostly do spreads.
So far 38 October puts will expire worth less, holders of 38 puts have 90 % chance to loose money. Even my 39 puts have very slim chance.
We are going to test 42, Closing on Friday was too strong and opening today was stronger. Simple fact is if we are not making money then we are wrong some where and this is very true for option that require to be correct on timing and price.