Well Freep; I looked at the QQQ, and I discard all the strikes except the closest 3 to the money,
the rest is noise.. I do the same with the 3 kings, and BTW the 3 kings if you add them up
do have as much IO as the QQQ..( staying close to the money ).
Right now calls are leading.
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What I have noticed in the past is MAX pain don't always happen..
There are times CALLs win good..and times PUTs win good
it's ( after ) those times I get real interested in.
When calls win big..they don't want the stocks they want
the profits to buy more calls with, so the week after a big call
win stocks most often dip.
A week after a big PUT win stocks tend to rally.
It's not written in stone but more often than not playing
Short after a Big call win, or Long after a big Put win
has good odds of working.
Jim