1. They’re probably ITM from earlier calls and reporting says they wrote OTM calls so that’s gravy. 2. The distribution is probably OTM on the balance and lose

1. They’re probably ITM from earlier calls and reporting says they wrote OTM calls so that’s gravy. 2. The distribution is probably OTM on the balance and loses. 3. Brokers unwind, make money but not as much as 1 due to cost of hedging. 4. Passives are already tracking and are along for the ride excepting any new capital in. Summary: Market correction while the rich get richer. Working as designed it appears.