is the automatic exercising of options that are "in the money" by 1 cent or more. That includes Market Makers (MMs) and retail options holders.
Note that extended trading hours closes at 8pm eastern.
I count only 6,887 contracts in the money. That's 688,700 shares.
Please explain? I see NO increase like this in ANY option closing
Friday this year.
Makes sense, but I question that there were enough open interest in in-the-money options to account for this much volume. I did notice a canceled trade of 80K shares...
I believe, but am not sure, that the MM's use covered options and as such weren't offered for sale and thus wont show up as open interest.