Market lore long has been that you should be a seller and not a buyer if you want to be a winner in options. Now a study of three years of data for five markets provides statistical support for that widely held belief. Option traders rarely take into account a little known underlying fact about the these derivative markets: Most options expire out of the money. A study analyzing three years of data com-piled by the Chicago Mercantile Exchange (CME) confirms it.
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