Ex-RB Short Term Traders

[Dimension]

interesting observation on March QQQQ options. there are combined, over 450K contracts at the 36 (258K) and 37 (213K) puts, while the largest interest on the call side is at the 38 calls with 112K.

i say interesting because i think typically, when you see large interest interest on puts, it's bullish as there are two things one can argue: 1) that writers tend to win, therefore price will move such that those puts expire worthless, 2) institutions that are opening new long positions will hedge with puts, and that can be interpreted as bullish since they are long the market.

but in this case, the bulk of the interest is a distance a way, at the 36 (~NDX1440) and 37 (~NDX1480)...implying if it's institutions, they are not showing a lot of confidence in the QQQQ 38 holding after expiration (this friday).

the positives are 1440 and 1480 are good supports right now.

just an observation...amongst many.