Short Term Trading Member Forum

[DowDeva]

I remember when I first noticed this phenomenom (huge put volume and OI), the week before the SPX was downgraded I had been studying McMillan's book on options. He had said that large OI at certain strikes was good support or resistance. I noticed 100's of 1000's of puts at strikes from ATM all the way to 50 strikes out of the money and I thought to myself, wow, we're going to have this huge up move! and went long.

A week later the SPX gets downgraded. Imprinted in my memory forever.