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Donald Thompson wrote:
>
> RT option observers..
>
> Yesterday, when I recieved the end of day figures from the CBOE for all
> the numbas..
>
> I noticed that the DJX there was a tremendous volume of calls something
> greater than 80 thousand, yet the Open Interest in the calls was
> something like 11,000... Is this turn over real????
>
> If true what a tip off. I understand that the volume so far is pretty
> much purely retail..
>
> Churningly,
>
> Don Thompson
As for all new contracts, the CBOE has surely made it known that they
wanted volume the first week. So locals go into the pit and trade with
each other for scratches to generate volume. Happens all the time. You
have it right, watch the OI, not volume.
This is not to say that this might not be a hugely successful product
though.
Eric
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