The policy met with some success, but then last August, to widespread astonishment, Mr Hayami decided it was time to put interest rates up again, to 0.25%.
In August, the Bank put interest rates on hold for a few months in the hope that monetary growth, exports and domestic demand would abate and that labour markets would slacken.
As you can see in the chart below, the put open interest at the 123 and 124 strikes was minimal compared to the put open interest at the 125 through 128 strikes.
In the December series of options, Apple sports call open interest of 245, 428 contracts versus put open interest of 243, 170 contracts.
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In the December series of options (which expires at the end of this week), call open interest totals 296, 756 contracts, versus put open interest of 208, 378 contracts.
Overall, MMM has attracted total call open interest of 130, 504 contracts, compared to put open interest of 125, 272 contracts.
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In the December series, BBY has attracted total call open interest of 82, 231 contracts, compared to put open interest of 60, 802 contracts.
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For instance, in the front-month January 2012 series of options, call open interest numbers 107, 848 contracts, compared to put open interest of 99, 254 contracts.
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Peak call open interest totals 611 contracts at the August 55 strike, while peak put open interest numbers 243 contracts at the June 50 strike.
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Options traders are lining up to take advantage of the event, with peak May call open interest of 34, 618 contracts residing at the 350 strike, and peak May put open interest of 24, 741 contracts resting at the deep out of the money 320 strike.
Peak November call open interest totals 5, 054 contracts at the 130 strike, while peak front-month put open interest numbers 6, 003 contracts at the 80 strike.
Taking a closer look reveals that peak front-month call open interest of 10, 878 contracts resides at the overhead May 150 strike, more than doubling peak May put open interest of 4, 911 contracts at the out-of-the-money 135 strike.
Peak put open interest, meanwhile, totals 6, 087 contracts at the deep out-of-the-money December 70 strike.
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Peak put open interest, meanwhile, totals 11, 916 contracts at the out-of-the-money October 45 strike.
Peak October put open interest, meanwhile, totals 51, 272 contracts at the out-of-the-money 390 strike.
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By comparison, peak put open interest totals less than 14, 000 contracts at the 50 strike.
Peak put open interest, meanwhile, resides at the out-of-the-money November 36 strike numbering 5, 554 contracts.
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Meanwhile, peak June put open interest resides at the 13 strike, totaling 46, 190 contracts.
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Peak put open interest, meanwhile, totals 3, 861 contracts and is located at the out-of-the-money October 500 strike.
Meanwhile, peak put open interest totaled 3, 698 contracts at the February 35 strike, which was out-of-the-money yesterday.
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In the short term, this glut of put open interest could act as options-related support for DHI.
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Worried that the country is overheating, the central bank has put up interest rates, and may again.
At some point, central banks will have to put up interest rates to clamp down on inflation.
On the other hand, wise leaders see the big picture and put collective interest before any personal goals.
Overall, peak front-month put open interest resides at the out-of-the-money November 14 strike, totaling a hefty 75, 196 contracts.
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By comparison, peak put open interest for both months lies at the 22.50 strike, totaling roughly 18, 000 contracts.
By comparison, peak put open interest of 31, 010 contracts at the May 10 strike seems a mere pittance.
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In other words, put open interest is nearly in parity with call open interest in the December series.
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By comparison, peak put open interest for the same option series totals 261, 911 contracts at the January 6 strike.
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Specifically, more than 182, 300 calls are open among all STX options, versus total put open interest of 85, 155 contracts.
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