You know the saying ... figures lie and liars figure.
I've always known that options pay more against the market, that is on an up day the puts will have a higher return and vice versa.
I think I can qauntify that. On a down day or an up day it will be close to 20% higher for opposite. On a day when it changes it will be a little under a 10% dif.
I can't quantify what happens on a flat day ... we ain't had any of those.
Warning - All posts are JFDAO (Just Fred's Dumb A$$ Opinion)