Options Wonderland

[Market Technician]

do you agree that low volatility benefits option sellers, including firm proprietary traders?

For instance, on option expiration days, the underlying stock price often moves toward a point that brings maximum loss to option buyers. You and I know this as option-pain or max-pain. However, these so-called "manipulators" didn't have to manipulate stock prices this week by selling large numbers of shares whose prices they wanted to keep from rising and by buying other shares whose prices they wanted to support because volatility [the $VIX] was falling, moving in their favor, slowly lowering premiums all week, thus the options themselves were bringing loss to option buyers, you and I.

tell me if my theory is a load of crap

thx