Zeev i know you visit from time to time on SI so you may have seen this from Paul Shread but in case you haven't it may shed some light on recent P/C action in the QQQ's as it appears a large block of 25 Puts was closed yesterday but OI @ the 26 strike now is above Call activity. http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=18750294 steve