-expiration, moneyness, and the strike price-influence the behavior of retail investors and exacerbate their behavioral biases. Retail … investors selectively exploit the expiration feature of options to mitigate the psychological costs associated with selling … losing positions, generating a strong disposition effect especially for out-of-the-money options. They also use the strike …

for different aversion to risk and intertemporal fluctuations, skewness and dynamics in the risk distributions of climate …