Hi Calvo,I am assuming that you are referring to the XJO Nov...

Hi Calvo,

I am assuming that you are referring to the XJO Nov 5000 call options. If this is correct there is 2537 contracts open compared to the XJO Nov 4500 puts which has 4638 contracts, these volumes are not excessively large and can change dramatically by expiry on the 19/11/09. In regards to call options you would write call contracts if you were bearish on the the market as you would be looking for them to expiry worthless below their strike price on expiry and thus bank the premium at the same time I would buy an out of the money put using some of the premium from selling the call.

regards

nino