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To: Sig who wrote (8932)	1/14/2001 4:44:22 PM
From: mishedlo	Respond to of 13572

Great stuff on the Max pain points- you have put in a lot of work. Some powerful market forces now at work , like another rate cut, could override MP's tho. Be great to see what happens. On Bmcs, it often goes down immediately after earnings since management tosses in a few negative comments on the Conference calls. Sig Exactly. They rallied stocks to Max pain and it was a successful launch indeed. However with earnings between now and expiry, I doubt they can pin these options for the next few days. Since Earnings is news and news overrides this stuff, we might have to discard companies reporting between now and expiry. Personally I have seen enough. Max Pain worked to near perfection this month. M

To: Sig who wrote (8932)	1/15/2001 3:07:36 AM
From: Walkingshadow	Read Replies (1) \| Respond to of 13572

Sig, << Some powerful market forces now at work , like another rate cut, could override MP's tho. >> Yes, but I don't imagine the options boys will just sit on their hands and watch that happen. They'll try to do something to win, which could include hedging their positions, such that the Max Pain point moves along with the stock price. We've seen that already in the last week on some of these stocks. So, even if rate cuts or such like get stocks moving, my guess is that you will see strong countering moves from the options pits. WS