Expiration
Figures courtesy of CBOE (www.cboe.com)
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Many people believe that 90% of options expire worthless (ie no intrinsic value at expiration). Figures from the CBOE indicate that in fact only 30% of actively options expire worthless
in each monthly cycle.
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Only 10% of options are exercised during each monthly cycle. Usually this happens in the final week before the expiration date. (CBOE)
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Over 60% of all options positions are closed out in the market before expiration. In other words option buyers sell to close their positions and option writers (sellers) buy back to close
their positions. (CBOE)