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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: CookiePuss who wrote (30510)	9/9/1999 3:35:00 PM
From: Steve Robinett	Read Replies (1) \| Respond to of 41369

--Cookie Oh, no! Not the dreaded max pain theory again. I guarantee if AOL trades up past 100 the greatest option open interest will move with it because, as I say every month when this bizarro mundo theory surfaces near expiration, at-the-money option sets almost always trade the most contracts. If a stock stays near a particular price for more time than some other price, the open interest will blossom at that price, especially near expiration when people are doing write programs on rapidly decaying options. You can watch this happen day to day on any stock over the next week. The tail don't wag the dog. Best, --Steve