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To: Eric Jorgenson who wrote (227209)3/11/2003 4:09:43 PM
From: mishedlo  Respond to of 436258
 
Every month we assume delta hedging will take place (actually it probably has to a small degree), and that max pain will not be hit.

Time and time again that view is wrong. Could this be one such month. Sure they happen. I have no way of forecasting them. My hedges are costing me profit big time. (reduced profit). A bounce to 815-825 close on expiry would suit me just fine.

I can get more short higher and right now my short puts will lose value faster on a rise than my long puts will.

M