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Technology Stocks : Asyst Technologies (ASYT) Good Value/Where is the Bottom? -- Ignore unavailable to you. Want to Upgrade?

To: Jonathan Edwards who wrote (1473)	6/15/2000 4:35:00 PM
From: Steve K	Respond to of 2313

Jonathan, The max-pain point refers to the price at which a stock needs to trade at in order to minimize the sum of the payouts for ALL of the outstanding puts and calls in a given month. Based upon the June calls and puts that are out there, ASYT's max-pain point this month is 35. The thought here is that the MMs, who write most of the calls/puts, will bring the price of a stock up/down to the max-pain point just before options expiration to maximize their profits. Hope this helps. Steve P.S., I just received the following url in a personal email. It automatically calculates the max-pain point: iqauto.com