Why is the larger open interest in strange strike prices?

I have noticed in the past months that the strike prices with a higher rate of open interest have changed. Usually according to GW we would use the strike prices that were in 5's. 105, 110,115 etc. But lately the strike prices with the higher amount of open interest have been 104.77 or 123.52 or 111.67. So when I want to use 100, the open interest is 463. But the 101.77 strike price has 5,000 open interest.

Can anyone shed light on why, and is it still okay to use strike prices with low open interest? I am used to having 15,000 open interest, not 463.

Thank you all!

GW hasn't mentioned "open interest". Just use one strike price in the money and you'll be fine.

Thank you!

I guess I am referring to using a strike price that has the highest amount of action. GW said to use strike prices in the 5's but now they do not have the most action. The ones that are odd have the most people buying puts and calls. So if I stay with the strike prices that are in the 5's, (but do not have much action, people buying that strike) will I be able to sell when my indicators say to sell? So far, I have been able to, but I don't want to get caught holding something I cannot sell.

I was just wondering why there are odd strike prices now. And why people are buying strike prices with cents attached instead of the dollar strike prices.

If a market maker can NOT make a market and marry up a buyer and a seller then the MM will take the position. That's why a MM is forced to make a market, and YOU are not. That is the advantage we have over a MM. We do not HAVE to trade when the market is open, but he does. Just buy one strike in the money, and forget about all that other stuff. He doesn't teach it the same way he did back in 2003-08 or when he was doing 1-5 classes of the WSB seminars.

Most options nowadays are in one dollar increments so sticking to the 5's, 105, 110, 115 etc doesn't work so well anymore.

Thank you so very much! That is very helpful. My life just got so much easier.

If anyone is interested, I back tested the strange strike price 125.71 with the strike price 125.00.

The 125.71 strike price moved 50 cents, and the 125 strike price moved 55 cents.
The 125.71 strike price went below the bid price I started with by 5 cents, while the 125 strike price jumped by 20 cents so it never went below the original bid price.
During a time when the 125.71 strike price was jumping around by 5 cents both ways up and down (move totaled 10 cents altogether), the 125.00 stayed the same price. For 8 market maker moves. So the 125.71 was losing money getting it back, losing, getting it back.

I also compared 100 strike price to the 101 strike price on a different move. Both moved well, but there was a time when the market maker moved 7 times and the 100 strike price stayed the same, while the 101 strike price moved back and forth by 5 cents.

This may not help anyone, but it gave me information I needed.