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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: EPS who wrote (23240)7/28/1998 8:45:00 AM
From: Ben Antanaitis   of 42771
 
Victor,

To economize on the work and calculations required to present the information, I only calculate the open interest value data points at 'strike prices'. Because of this, my Max-Pain graphs can only have a slope change occur at strike price points. At these points, the volume of the new strike price calls/puts gets added, in a linear fashion, to the existing value of the 'in-the-money' open interest at that stock price. Now if I used smaller stock price increments in the work, you might find that the Max-Pain point falls between two strike prices. My 'shortcut' give you a curve with a flat or shallow bottom, indicating that the MP point might be between them, but the lower side is closer and more probable.

Ben A.
ez-pnf.com
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