TT et al,
For those of you who still somehow thing the Maxpain theory (the theory that on expiration day a stock moves to a point where the greatest number of options expire worthless) holds water, here's a little something interesting. Yesterday, the AOL Maxpain point (the point with the highest open interest of both puts and calls) was 95 but today the point with the most open interest is--the envelope, please--100! The maxpain point has moved up while the stock moved down. How can such things be?
Strike Call O.I.........Put O.I..........Total
85...........9,339...........12,096..........21,435
90.........15,015 ..........15,944..........30,959
95.........13,985...........12,787..........26,772
100.......29,040...........16,570..........45,610
105.......21,802.............7,728......... 29,530
Best,
--Steve |
