Article on Livewire, page-28

It makes sense what you're saying about the oppies but its a bit more invlovled than that.

If you're deep in the money and you've sold a put you can roll it out and down in time. You don't need to pay up unless you want to, just need the margin to hold the position.

Thing is its the market makers or major fundies who really move the underlying price with their high volume positions.

Hard to say what combinations of positions they have in play.
Market is definitely influenced around options expiry times but really depends on whether a stock is tier 1, 2 or other in relation to the options as to how much.

Bottom line though is it looks very oversold and some good points have been raised as to why.
Now we see what the market says.

Best of luck folks.