Options expiration pin action a myth?

Quote from nazzdack:

Has Cramer maniacally declared that the S&P will rally up to 1500 because of the large open interest in the December-SPX-1500 calls and puts?


LOL DEC's been on the board a long long time. All the funds that use the SPX for hedges have held most of that OI for months and months. Good luck trying to PIN the S and P 500 especially on the opening print.
 
Quote from thegazelle:

GOOG does it every month. If not exactly on the strike, very close to it. Butterflies can be very rewarding, even on expiration day.

GOOG has strikes at 1.5% increments based upon it's current price.
 
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