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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (36460)	3/3/2002 5:18:07 PM
From: mishedlo	Read Replies (2) \| Respond to of 99280

Max pain did work in Feb, by MY definition. We had a significant rally from nowhere all the way up to qqq 37 1/2 on Expiry Thursday. It was easy enough for the crooks to hedge the QQQ 37 puts by going short above that level and letting things drop. If we hit Max pain on the nose on Wed Thursday or Friday of Expiry week I call it a win, regardless of what happens on the close. There is so little time premium left on anything in the last two days, and with hedging kicking in, that last 1 point drop on the QQQ's, INTC or whatever does not concern me. My read on Max Pain was qqq 37+ which I reiterated a couple times. My recollection is we got to QQQ 37.48 late in expiry week after a significant rally. That is a Max Pain victory in my book. Hedge at the top in expiry week and let it drop. Make no mistake about it, the option crooks won big last month, on both sides! M