how is oi calculated on options?, page-8

Argus, there is nothing wrong with what you are saying. it would be interesting to hear from some experienced traders

a) what percentage of their options have expired worthless

b) after allowing for trades involving a protective strategy

only by laying down some very strict rules, have I been able to achieve anything resembling positive results. because as pointed out previously, stop-loss (the trader's best friend) simply doesn't exist with options.