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To: MythMan who wrote (235858)	4/16/2003 7:45:12 AM
From: sun-tzu	Read Replies (1) \| Respond to of 436258

Unless there is a big unfilled gap one way or the other, we’ll always be near max pain, especially on an index vehicle like the QQQ inherent in that statement is the possibility for delta hedging.

To: MythMan who wrote (235858)	4/16/2003 8:51:45 AM
From: mishedlo	Respond to of 436258

It is not a self fullfilling prophecy. Remember January. We were hugely above max pain and fell to it in a few days. We were well above max pain at qqq 27 last week. We fell to 25.5 where da boys could protect themselves. What is interesting is that you are calling it a self fullfilling prophecy and others argue with me that it works at all. Although it did work on the naz, it did not work this month on the spoos. From here, I would not be surprized to see a fall back to 26 but we could proceed with the meltup as well. Also note that max pain did not really change for weeks. Yes it can and does change, but when you see huge blocks of puts and calls at various close strikes, it is not likely to change in the final two weeks. M