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Technology Stocks : All About Sun Microsystems

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To: Marvin Mansky who wrote (17194)	6/18/1999 9:59:00 PM
From: JC Jaros	Read Replies (1) of 64865

Long term long SUNW and fundamentally minded, I'm the last guy to defend technical analysis. I've watched this "max pain" options analysis though, be correct SIGNIFICANTLY more often than not with SUNW over the past 4 years. It's actually a surprise to NOT see SUNW close at $60 today on triple witching (options expiry). The apparent facts are that options expiry closes where it causes the least $ payout to options (puts and calls) players, manipulated that way by 'market makers'. Perhaps because of the large institutional ownership of SUNW, it's a stock that has a consistantly manipulated options expiry outcome. Historically, the wrong day to sell SUNW is the third Friday of the month. Perhaps it was a mixture of Oracle earnings and the upgrade of IBM, but this was one of the FEW times that a call such as the one you responded to was off the mark. If you had a running bet against the fellow you were responding to there regarding SUNW closing at 'max pain' on triple witching, you'd be dollars behind. -JCJ

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