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

To: DEM who wrote (74640)	6/4/2002 11:37:41 PM
From: mishedlo	Read Replies (1) \| Respond to of 99280

Sure - Was reasearching Max Pain tonight Max Pain QQQ 32 with ENORMOUS puts and calls building up at that strike. We are a strong favorite to rally to QQQ 32 IMO from wherever Zeev sees his June 12th bottom. ggg Max Pain MSFT 50. Hello! here we are right now. 60K plus puts and calls at strike 50. It is in the best interest of the option sellers to kep this thing pegged right here. Wonder if volatility on MSFT dries up. Its intraday swings are as volatile as many of Zeev's Q. Perhaps he should consider playing this one. The day to day swings are not that great but it sure bounces around intraday. Max Pain INTC 30 but 70K to 46K calls vs puts at that strike. My read therefore would say 29 perhaps a little softer. Max Pain CSCO is toughest. Over 100K calls at 17 1/2 which is totally absurd. Is someone trying to force those into the money? CSCO has not been tracking futures well at all and bounces very quickly as of late. I do not see CSCO rallying above 17 1/2. Of course it surprised me that it closed above 15 last expiry. Delta hedging kicked in big time on CSCO and the absurd bullishness remains. At the 15 strike it is 33k calls vs 58K puts. Thus I read CSCO max pain as 15+, say 15.50-16.0. Thus we have MSFT right on Max pain, CSCO near Max Pain, and INTC easily within a half day "upgrade rally" away. QQQ is the puzzle here, but a strong rally in bios and semi-equip, and storage would do it. The trick will be how to rally the QQQ and not get too far overboard on the others. Oh well this is all preliminary but as usual 1) I assume it will happen 2) Max Pain values can change between now and the end of next week 3) It is too early to make max pain bets cause the numbers can change M