As a DHT derivative, oxymetholone is not a substrate for aromatase and hence cannot be aromatized into estrogenic metabolites .  However, uniquely among DHT derivatives, oxymetholone is nonetheless associated with relatively high estrogenicity, and is known to have the potential to produce estrogenic side effects such as gynecomastia (rarely) and water retention .     It has been suggested that this may be due to direct binding to and activation of the estrogen receptor by oxymetholone. 
In the end a strong case and solid arguments of injustice can be made against the steroid laws of the United States; when we examine the Controlled Substances Acts we find they have very little basis and like many other drug laws carry with them no medical or lawful support in-which such laws are supposed to exist. The Controlled Substances Acts are a bit of an anomaly in . law as there is truly nothing else like them yet they still remain the law regardless of right or wrong. This is very important to remember; right or wrong the law is the law and failure to comply can often carry serious consequence. If you are going to take part in performance you need to understand this and if you choose to take part and trouble comes to you then you need to take responsibility for it on your own. However, this does not mean the law cannot change and one day it very well may change and performance enhancers who truly desire a world where they may peacefully supplement with anabolic steroids have it within them to see such a change if the proper course of action is taken. Complaining about it is not enough, crying and saying “it’s not fair” is not enough and only makes you sound like a baby. If it’s important to you begin doing something about it, learn how to educate people on the subject, learn how to speak objectively yet free from emotional speech and present your arguments with grace. While it may sound corny and without hope if it is important to you call your congressman, call your senators and begin doing something about it; there’s nothing against the law about standing up and fighting for something you believe in; we are still free to voice our opinions and before you say it’s not important to you remember, you’ve read this far so it must be somewhat important and if you’re a performance enhancer then it affects you.