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To: Shack who wrote (60757)	12/3/2002 5:54:34 PM
From: NOW	Respond to of 209892

iqauto.com has it at 26 FWIW

To: Shack who wrote (60757)	12/3/2002 6:06:46 PM
From: The Freep	Read Replies (2) \| Respond to of 209892

Shack, there may be more puts than calls at 27, but look at 28 and 29, where calls outnumber puts by huge amounts. Therefore, there's no reason we should go up, either. We're still 13 trading days til expiry, and I don't see how we can launch an upward leg with all those calls from 25 and up, much as straight down from here seems unlikely. Some jello (or some tradable range) seems more likely for a spell. Or some more down then some sharp up? Or Max pain is skewed here at year end, as I know there have been a ton of December QQQ options for some time. . . . the freep

To: Shack who wrote (60757)	12/3/2002 9:36:54 PM
From: mishedlo	Respond to of 209892

QQQ inched UP today. Was a 25-26 tossup is now a solid 26. Call buying has been rampant and there is a huge buildup of calls into Jan. Max Pain for Jan is anywhere from 24-27 with 25 the most likely target. Time premium for Jan can be killed by pinning QQQ to 26 or below for this month. INTC max pain is a solid 17.5 I would doubt that 20 holds MSFT appears to be 55 CSCO appears to be 12.5 That is solid downward pressure across the board. For those drops to hit something has to run. Bios? Or perhaps we could overshoot and correct up. best guess is that Pain is not hit except on QQQ's but we MOVE towards pain on everything. That would allieviate the current overboughtness, take care of overexhuberance looking ahead to Jan, take care of Pain right now, and posistion us for a double top or exhaustion gap in January/Late Dec. Yesterday top was a gift short (but I missed it) M