SPDR S&P 500 (SPY)

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NM,

You see all these crazy option players all the time, case in point, someone bought 1000 OEX May 540 call for 0.1. In other words in two days, he is expecting the Dow to go up 600 points.
No wonder 95% of the option traders loose money. One of the golden rule is that you better be in the money if the time left is less than 2 weeks to expiration. The only exception I have seen was GOOG, it can go from 30c in the morning of option expiration day to 3000 by the close. But this does not happen anymore. Wonder why GOOG always do earnings annoucement just before option expiration.

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