Option Trading and Sentiment Traditionally, odd lot statistics were reliable indicators of the sentiment of uninformed, small investors. That small investors, who did not have enough capital to purchase round, 100-share lots, traditionally called odd lots, were heavily buying stocks was an indication that the uninformed public was overly optimistic. When small, uninformed investors were highly pessimistic, they would short sell odd lots. The odd lot figures represented a measure of uninformed, public speculation, which tended to be highest at market turning points. Today, listed options data has replaced the old odd-lot figures as one of the best measures of public speculation. A call option is an option to buy an asset, usually a stock or commodity, at a fixed price for a specific period. A put option is an option to sell an asset at a fixed price for a specific period of time. Some options, by expanding on the basics of time and price, can become complex. However, the s...