Deep out of the money
A call option with an exercise price substantially above the market price. Also put option with an exercise price substantially below the underlying stock's market price.
Anyway, deep out of the money April Puts are trading multiple times their open interest. So there is a lot of either hedging or massive short building on Lehman.
DOTM
See: Deep out of the money
D/P
Abbreviation for Documents Against Payment.
deep out of the money An option that is so far out of the money that the chances of it going in the money prior to expiration are small. deep-discount bond A bond that sells at a significant discount (usually 20% or more) from face...
of an option's delta to changes in the price of the underlying asset. The gamma of an option is greatest when an option is near the money (strike price close to market price of underlying asset) and near zero when an option is deep out of the money.
 See also: Out of the money, Future, Investment, Market, Pattern
  
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