When call options expire ITM, the shares either need to be transferred (from an existing owner) or bought at the market price. I'm wondering whether this affects the stock price post-expiration?
The effect of uncovered call options? It seems to me that it can be reasonably assumed that not all shares leveraged by call options are covered, & therefore some will need to be bought in order to cover following expiration. So then assuming the same being true for puts, when the number of uncovered calls exceeds the number of uncovered puts, does the stock price increase?
Market maker's hedging? Or is this something that would be cancelled out ahead of time by market makers using a strategy such as delta hedging?
I would appreciate any clarification on these topics.