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Strategies & Market Trends : Classic TA Workplace

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To: jjstingray who wrote (42013)	6/13/2002 6:35:23 PM
From: Shack	Read Replies (4) of 209892

Seems to me that the options manipulators need a turn tomorrow in order to save max pain I've said it before and I'll say it again: At THIS level (around QQQ 28), there are well over 700K call contracts underwater in June, that's huge. The option writers have done very well this month. The much ballyhooed max pain rally would take us to QQQ 30 presumably and would kill 150k put contracts but bring about 100K call contracts back to life. In other words, why bother? To kill a net 50K contracts?? Forget it. As far as I'm concerned we are at a level right now which may not be absolute max-pain but has put the hurt on many. I'm surprised none of the other max-pain watchers have noted this. I think there is much more of a chance that the put writers at QQQ 28-30 hedge themselves and we tank hard into expiration.

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