It could but as per your chart and its your data, historically the increase in options conversion has coincided with an increase in the SP? Its your data mate, not mine?
While the ultra high volume conversion in june 16 coincided with a fall, that has only happen once?? If you look at it the SP actually falls when options arent being converted on masse?? So your theory of people sell heads to convert options hasnt been happening as the SP would be falling following large conversions of options when infact the opposite is happening from your data??
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It could but as per your chart and its your data, historically...
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