THAT was just one-off. Of couse no-one can guarantee that it cannot happen again BUT you can't use it as a yardstick for regular measurements.
OI builtup at 51 and 52 CE is there BUT again the overall PE OI at those levels is still double (at the time of wrinting the previous post had not checked yet) so ...
Used to keep an eye on OI while writing options in my earlier days... but have found innumerable no. of times that OI built up is heavily dependent on the direction of the market... I do watch them real time on my ODIN terminal...
giving a few examples...
on the day of the last budget, OI of PEs shoot up as the market went up... all these OI were covered EOD and even negative OI happened as market came down...
same was the case yesterday... OI of 5400 PE was far greater than 5400 CE... at least 3 million difference... as the market moved down, the difference narrowed down to some 7-8 lakhs only... and you know what happened today...
Nowadays, OI is just another indicator for me like VIX... it has lost it's old school charm...
the joker that you are, you won't be able to think better than this... stop the war of words and read your post again... I hope you understand what you wrote...
Dow opened up in the expectation of the pullback rally after the huge sell-off... But the longs are in a competition to sell their stakes at whatever comes first... :lol: