Op-EX

Options Expiration for November is tomorrow, here's how it looks.

 At first glance of the alls, it "seems" that there were some fairly bullish option buyers as the $124-$130 level has more open interest relatively. In the money calls have very light open interest.

When looking at the PUTS, it is obvious there was a lot more action there with many puts having high open interest almost 10 points lower, they should all be wiped out, as to the open interest in the money from $122 to $125, there's pretty heavy open interest there, but $120 seems to be where the most contracts are to be found. If I had to guess, I would say a pin would probably be right around the $120+ area, however, we never know who bought the puts. Typically the professionals write and retail buys, but there's no way to say for sure whether the pros actually bought this month. If the call open interest was higher I'd be more inclined to lean in that direction.

As always, it's a best guess and my best guess would be somewhere around >$120-$122+, a bit wider then past guesses, but there is a quarter of a million in open interest at $122.

If any of our options players want to email me with any guesses with your reason, I'd be glad to post a revision.