Zeev's Turnips Patch-No Politics (ZEEV)

[The Freep]

Zeev -- I'm curious if you've looked much at the QQQ puts/calls in October? I know you like to throw out the QQQ's when figuring the equity put call, but this isn't about that. This is about whether or not there might be support in the market.


I decided to add up the calls and puts from 28 to 38 (sandwiching today's close). I also only used hundreds and up that it'd be close enough). This does NOT include today's action (which appears to show 49K plus on Oct 33 puts, though I don't know if that's closing or opening). Anyway...

From 28 to 38 on the QQQ we have

288,000 calls
915,100 puts

More than 3 times as many puts, eh? It's not until QQQ 35 that you find a strike where calls outnumber puts. Heck, there are more puts alone at 30 than there are total calls from 28 to 38!

I note that your 1717 would, more or less, be QQQ 30, so that big old batch of puts at 30 won't make anyone rich (unless we go straight to 1640). But does the preponderence of calls concern you at all?

the freep