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To: mishedlo who wrote (1226)	8/13/2001 7:24:51 AM
From: Stephen M. DeMoss	Read Replies (1) \| Respond to of 1328

Mishedlo, From my experiance, you should not put too much weight in Max Pan. I specifically remember owning SUNW and closely watching the Max Pan for a proper close. Turns out it went from an oversold position to an extremely oversold position right to the close. It wiped out all calls but left a lot of money on the table for those who held their puts to expiration. That is one example but I have seen in a lot during this bear. Yes they close them at some exact strike, but often a 'non-Max Pan' strike. That is my view, not a scientific study. Good luck, Steve D.