Pitkäjärvi, Aleksi; Vacca, Matteo - 2024
-expiration, moneyness, and the strike price-influence the behavior of retail investors and exacerbate their behavioral biases. Retail … price of an option as an objective, instrument-specific reference point when making their selling decisions. Behavioral … biases contribute to heterogeneity in option trading performance, with the worst performance concentrated among investors …