Note the JAN 07 put OI and IV all the way to the bottom strikes - is this indicative of mad speculation or common for this backmonth? many thx
I don't know for sure nor do I trade long-dated options but the volume and open interest may have to do with the fact that the January-2007 was a LEAPS-contract that attracted a lot of trading interest when people thought AMR might go bankrupt with United and Delta from awhile back. Much of the open interest might be "vulture players" who'll eventually have to do something with their positions.