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To: Win-Lose-Draw who wrote (185661)	8/3/2002 5:51:41 PM
From: orkrious	Read Replies (1) \| Respond to of 436258

looking at the open interest, I see 166k 24 calls, 106k 24 puts and 58k 25 puts, so the max they want this thing is 24. to me that indicates any rally isn't going to be that strong.

To: Win-Lose-Draw who wrote (185661)	8/4/2002 9:21:12 PM
From: mishedlo	Respond to of 436258

I peg Max Pain to be 23-24 Calls outnumber PUTs at 24 and so far this year, everytime that has happened rallies have hit a brick wall there. There are not enormous numbers of puts below 22-23. That is where the battle is. If call buying strike 22-23 happens in size Max pain will drop to 22-23 perhaps. Right now I would suspect that the previous pattern holds. That pattern is continued selloff, then some horsesh*t rally back up to the 23-24 area(on CSCO MSFT or INTC news) then down again. This assumes no change or little change in open interest for another 3-4 days. M