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. 
This information should not be used to decide whether or not to take this medicine or any other medicine. Only the healthcare provider has the knowledge and training to decide which medicines are right for a specific patient. This information does not endorse any medicine as safe, effective, or approved for treating any patient or health condition. This is only a brief summary of general information about oxymetholone. It does NOT include all information about the possible uses, directions, warnings, precautions, interactions, adverse effects, or risks that may apply to this medicine. This information is not specific medical advice and does not replace information you receive from the healthcare provider. You must talk with the healthcare provider for complete information about the risks and benefits of using oxymetholone.
Oxymetholone is as mentioned very hepatic and liver enzymes will necessarily increase dramatically with its use. For this reason most Oxymetholone use will generally need to be kept at 6 weeks max with many never needing to go beyond 4 weeks of total use. While this is a very short lived duration its important to note, Oxymetholone appears to be one of the few steroids that really diminishes after use is extended; meaning, even if you went past the 6 week mark you probably wouldnt get much out of it other than damaging your liver. It is comforting to note, while it is toxic to the liver, when used responsibly any toxic effect will be of little concern as the liver will quickly return to normal once use is discontinued. It is important to note, as this steroid is hepatic it does not carry near the level of hepatotoxicity as many over the counter medications and regular alcohol consumption.