guess i gotta break it down since im a chi native
originally thot came from a well known chicago saying "that hoe out there" when a chicago mf say "out there" it means a mf doing dirt...so if u add "hoe" it means that hoe out there doing dikks.
nikkas been saying that hoe out there for almost 2 decades in chicago.
It got abbreviated to t.h.o.t. and mfs caught on to it.
Some how along the lines "out" got changed to "over" ....which doesnt really make sense to me but hey
you really gotta be from chicago to get some of our lingo.