Buying deep OTM puts

If you want to help a market maker have a good life then buy OTM options.

 

They are lottery tickets-twice a year however you will win big....if only we knew when

 

Actually, no. The best-run mms like to be long the wings, if anything.

 

The power of luck and vol: good job OP

 

My knowledge is limited dealing with options. And I can't seem to finds answers to all.

Question: Most of the time when Price of underlying for day has gone down let's say, so I am thinking the Puts would increase, but occasionally I will notice that the Calls went up instead and no earnings report came out, why?

Question: When looking at all prices for say Call strikes, occasionally I will see some absurd way beyond price than some strike should be and it could be like 50 volume traded.

Thank you