Biotech Values

[AlpineBV_Miller]

Options are created out of thin air for the transaction at hand, so the seller more than likely previously was not a buyer. This is especially true on high volume and when a new strike is created.

This is (theoretically) not true for stocks, where the only shares available to be sold are shares previously purchased. Short selling disconnects this completely through the creation of new shares, but short sale levels are usually a small percentage of overall float so you're likely buying a stock from someone who was previously a buyer.