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Strategies & Market Trends : Take the Money and Run

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To: Jorj X Mckie who wrote (3222)	6/13/2002 7:28:28 PM
From: Challo Jeregy	Read Replies (2) of 17639

some guru- Price Headley (for some reason I am always reminded of Bullwingle when I hear that name -g-) said this yesterday -fwiw A reader asked about the Nasdaq 100 (QQQ-27.46) open interest configuration heading into June options expiration next Friday. It's not pretty. The 30 level was key a while back, as both the June 30 puts and calls carry over 100,000 contracts in open interest. But now the 28 level is looking like overhead resistance, with 73,348 June puts open there already going into the money. If we hold under the 27.50 level on a closing basis, it shows the bears still have control. There is no major support under 28 on an options basis, so the next logical target is the round number at 25 in the coming month. The Q closed over 27.50 both yesterday and today. But take a look at this- I'm not sure that the max pain on the qqq is 30/31 anymore - quote.yahoo.com

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