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Technology Stocks : Lucent Technologies (LU)
LU 2.560-1.7%3:59 PM EST

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To: The Phoenix who wrote (6990)4/2/1999 3:43:00 PM
From: Ben Antanaitis  Read Replies (1) of 21876
 
Gary,

Sorry, but the calculations posted on my web pages are the correct values. The automated program that now does the Max-Pain&#153 calculation has been operational for over a year, grinding out the Max-Pain Point&#153 graphs week after week and month after month. There is no 'magic bullet' in the LU numbers this month. The Max-Pain Point&#153, whether it is the actual/equivalent ($100 today = $50 post split) expiry price for the stock or not, is currently $100.

Note that there are over 13,000 Put contracts open at the $100 strike price. This acts like a huge magnet and creates over $1.3M of value for the put holders for each $1 below $100. Also note that the majority of the calls are in the $100+ strike ranges.


Strike
Price CALL Vol PUT Vol
50 (.LU DJ) 33 (.LU PJ) 815
55 (.LU DK) 53 (.LU PK) 594
60 (.LU DL) 5094 (.LU PL) 2908
65 (.LU DM) 409 (.LU PM) 3468
70 (.LU DN) 1317 (.LU PN) 3287
75 (.LU DO) 1678 (.LU PO) 5472
80 (.LU DP) 3063 (.LU PP) 5564
85 (.LU DQ) 2652 (.LU PQ) 8411
90 (.LU DR) 3971 (.LU PR) 9905
95 (.LU DS) 2846 (.LU PS) 7709
100 (.LU DT) 13371 (.LU PT) 13192<-Max-Pain Point&#153
105 (.LU DA) 12210 (.LU PA) 8384
110 (.LU DB) 16917 (.LU PB) 2769
115 (.LU DC) 10847 (.LU PC) 1798
120 (.LU DD) 12963 (.LU PD) 1061
125 (.LU DE) 5657 (.LU PE) 133
130 (.LU DF) 7687 (.LU PF) 140


Ben A.
ez-pnf.com
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