BRCM-- Max-Pain™ analysis
Thanks to T/A and options. Knowledge is power ;-)!
Learn & apply, lifelong enrichment. Trust your own research, analysis and instincts. Never have blind faith in anyone.
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ez-pnf.com
>>>By looking at the price of the underlying issue, on the last trading day before option expiry, (Note: options officially expire the day after the third Friday of the month.) it has been seen, with statistical significance, that the closing stock price tends toward the option strike price that forces the greatest number of options to expire in a worthless condition.
Whether this tendency is deliberately caused by some conscious effort at market manipulation or is just a result of some natural law of supply and demand is not obvious to this analyst. It is significant, however, to be aware that this does seem to be a tendency that occurs during those times when there is not some major market upheaval, price momentum, or breaking news relative to the stock in question.<<<
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iqauto.com
Data from cboe as of Wed Nov 15 11:51:10 2000 ET, delayed quotes.
brcm - 00 Nov
Expires: Nov 18 , 2000
110 117833500
115 108732500
120 99917500
125 91398000
130 82984500
135 74832500
140 66917500
145 60053000
150 53654500
155 48126500
160 43494500
165 40651500
170 38442000
175 37288000
180 36682000 -Maximum-Pain Theory Value
185 37313000
190 38528500
195 41306500
200 44790000
210 57408000
220 73185000
225 82610000
230 92035000
240 113312000
250 138176000
260 166240000
270 196119000
280 227911000
290 261504000
300 295876000
310 332213000
320 368727000
Put/Call Values
110 117833500 0
115 108684500 48000
120 99813500 104000
125 91185500 212500
130 82656500 328000
135 74345500 487000
140 66251000 666500
145 59121000 932000
150 52410500 1244000
155 46346000 1780500
160 40899000 2595500
165 36166000 4485500
170 31708500 6733500
175 27539000 9749000
180 23560500 13121500
185 19962500 17350500
190 16597000 21931500
195 13500000 27806500
200 10614000 34176000
210 6215000 51193000
220 3375000 69810000
225 2596000 80014000
230 1817000 90218000
240 940000 112372000
250 555000 137621000
260 338000 165902000
270 200000 195919000
280 84000 227827000
290 36000 261468000
300 0 295876000
310 0 332213000
320 0 368727000 |
