Is there an arbitrage opportunity to buy puts at End of Quarter?

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I don’t think arbitrage is the word you’re looking for. It pertains to exploiting the spread between prices of the same thing in different locations or on different exchanges. Going long a put would constitute an arbitrage position. You would need to find a way to take the put you bought and then sell it on another exchange at a higher price for it to be arbitrage.

Arbitrage is definitely not the word… thanks for the explanation!

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