When options are mentioned in the market, the first thing that comes to mind for many option novices or investors who do not understand options at all is: option position changes. They think that the first thing to learn about options is to observe option position changes, so as to know the deployment direction of large investors. They hear about it online and have only a half-understanding. Many KOLs (Internet celebrities) who do not know much about options make a big fuss about option positions to attract attention and get high click-through rates, which over time becomes an urban legend.

I don't look at the changes in option positions because I have referred to it more than 20 years ago and the winning rate in the past was very low. I also understand that there are too many reasons. High transactions or open contracts may be that the warrant dealer (Hong Kong Warrants) is about to deploy new warrants, or that old warrants are added to hedge; it may also be that large investors or funds buy options in the opposite direction to insure their holdings, or it may be speculation by large investors naked short instead of long, or it may be vertical spread trading (vertical spread) or multi-month spread trading (calendar spread)...

Then many internet celebrities who claimed to be options experts described it vividly as a long call or long put of funds deployed by large investors, mistakenly thinking they had found a sign.