Since i am waiting for my next trade (yes, i admit time plays a major role in my trading) i would like to comment that there are as of now 113K put contracts for the Oct S&P @ 1525 and another lessor spike of >59K @ 1500. I would think that the market would move toward 1525 by expiration Friday. Depending on open interest to much to point the way is always a little dangerous, but nevertheless we seem to be within easy striking distance of 1525 at this point. I'd be pretty surprised if we went to 1500 by Friday (though it is certainly not inconceivable in todays market), but not at all surprised if we settled near 1525. Of course there are a number of spikes in OI further down but these are obviously related to hedging, achieving delta neutral positions, and more complex option plays. Caveat emptor .