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Strategies & Market Trends : Moufassa's Lair
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To: ALTERN8 who wrote (13086)5/14/2003 11:02:30 AM
From: James C. Mc Gowan  Read Replies (1) of 13660
 
2 day H+S on QQQ filled this AM at 28.40 +/-

MaxPain had moved up due to outrageous put buying, especially at S/P 27/May where it is now about 2 to 1 Puts to Calls, but also at higher strikes; + 30K Puts over calls @ 28. However, now + 80K calls over puts at S/P 29.

Congratulations to all the put buyers for this contination of the rally into expiry,gggg. Good work.

Looks like 28.20 could be in range today. Good point to buy back covered calls and sell puts. I'm also buying QQQ on this dump.
James
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