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Owens-Illinois

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What do you mean you didn't think the chain would be that bad? You can literally check how liquid the chain is before you ever trade it. Ive read pretty far down in the comments and ive gotta call bullshit. You say you trade millions of dollars a year. Hundreds of thousands of contracts a month. Yet you dont think to check how much OI or volume is in the options chain? Im calling bullshit on your whole story because thats the most rookie or noob mistake anyone can make, ever.
I think your chances are good. FiServes p/c volume is over 3 vs OI being .7. Heavily shorted by retail investors. I think you’ll see a pretty heavy correction up within the next 30 days. Good luck!
Of all the contracts to check the Volume and OI on, these are the most important. The spread will murder your profit if you pick an illiquid strike, and the volume and OI can just disappear POOF and you’re left holding an option you can’t get a fill on.
Lower the ratio, generally more bullish in the market. It’s rigged so I bet there will be more corrections in the next month. There are two ratios to consider - put/call volume (amount of trades), put/call OI (total money). Check out AMD for example. The P/C volume is at .43, while P/C OI is 1.08. You can read this every which way, I read this as institutional money is shorting AMD, and retail investors are heavily long. Let’s look back in a month and see which way the company goes, I am betting short with the insiders.
Not sure what they’re implying for later this week but OI under one is a bullish signal
The fact that Thursday-Friday was essentially a vanna move scares me. Can't really BS OI, and our usual friend gamma.... but vanna... ain't no friend of mine.
OI PCR for SPY is 2.21. Too many dorks willing to give their paycheck up because today is totally the end of the world
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