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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: John Madarasz who wrote (67612)	2/28/2003 1:11:02 PM
From: 4rthofjuly007	Read Replies (1) \| Respond to of 209892

39549 SnP index calls vs. 19681 SnP index puts trades as of my last check. Still don't know what to make of it.

To: John Madarasz who wrote (67612)	3/1/2003 10:36:09 AM
From: mishedlo	Read Replies (1) \| Respond to of 209892

SMH max pain There really are only two relevant strikes IMO. I believe there needs to be 20K options before there is a degree of reliability. Furthermore it is preferable that they be at multiple strikes. SMH fits that category and indeed it is lopsided. 20K calls at both 22.5 and 25. 9k and 2K respectively on the Put side. AMAT 27K calls and 13K puts at strike 12.5 INTC 77K calls and 25K puts at strike 17.5 INTC 22K calls and 30K puts at strike 15 INTC (looking ahead to april is extremely heavy on the call side at 17.5 and 20. (as a bear I would prefer to see calls at strike 17.5 and 15 rather than 17.5 and 20), but optimism on this extends beyond the current month for sure. BRCM heavy on calls at 15 but not enough OI to make a call. Looking ahead to April on SMH, OI is almost nonexistant. What bears should want to see here is a selloff in SMH and calls build up but not puts in April. That would be incredibly bearish. Right now, I do not know how much higher thay can jam this sucker but I would be surprised if INTC could hold above 17.5 or SMH 22.5 in March. If SMH can get to 25 next week puts going out a few months should be a big winner IMO. Right now it is frothy enough, how high can they jam it? M