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To: the-phoenix who wrote (69998)3/30/2003 2:05:37 PM
From: mishedlo  Respond to of 209892
 
Why would someone do that?

That PUT interest at 22 should put a floor at 22.
The person/fund whatever is exiting the markets now and will not need the hedge next month.
On the theory that we are either going to dive right now or not at all.
To take $ off the table but still have the same protection (but for a far shorter period of time).

There are lots of possible reasons but plays like this that do not affect max pain and especially are wash positions are not worth worrying about.

M



To: the-phoenix who wrote (69998)3/30/2003 2:08:39 PM
From: mishedlo  Respond to of 209892
 
I just reread your post and if the May position was indeed opened and closed the same day I have no answer other than someone accidentally entered into the wrong trade (bad instructions) whatever sold the positions and put it where it was intended in the first place.

Is that kind of mistake possible?
I do not know.
At any rate, I would call the whole thing NOISE!

M


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