Piffer OT - And Other Assorted Nuts Message Board

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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts

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To: Lost1 who wrote (20038)	2/26/2000 3:54:00 AM
From: Jorj X Mckie	Read Replies (3) of 63513

Hey buddy, Getting kinda spooky out there....almost...dare I say it? Bearish. Lots of talk about the put/call ratio being the lowest that we have seen in years indicating that the bear is about to devour us. I searched the CBOE site for the p/c ratio but could not find anything. So I just took a peek at the oi for the spx and oex. It certainly didn't look like there was much of a imbalance. As a matter of fact, it looks like there is a tremendous amount of puts right below current levels and very few calls. That means to me that the downside risk is not as great as what some may be saying (unless I can't add). I encourage people to go to the cboe site (http://www.cboe.com) and check out the open interest for the major indices themselves. Another thing that people might want to do is check out the Max-Pain (tm) analysis done by Ben Antanaitis. Member 3307095 He is doing a study that identifies where the highest number of options will expire worthless (thereby causing the most amount of pain to the holder of the option) and it is pretty good at determining targets for stocks and indices. Here is the site for the Max-Pain charts. ez-pnf.com They were updated today and it actually looks like the Max-Pain points for the OEX and SPX are significantly higher than today's closing price. This page will bring you to past Max-Pain charts to compare the results. ez-pnf.com Here is the OEX chart for January 2000 just to give a flavor ez-pnf.com and the January 2000 SPX ez-pnf.com But, of course, most of our indicators are negative and I doubt that they got much more positive today, so there is still a fair amount of caution that is warranted. But from the current levels, I just can't get to excited about a BK. Tom alwaysdarkestbeforethedawn.com

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