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To: jjstingray who wrote (77399)	7/14/2003 5:18:24 PM
From: Jack of All Trades	Respond to of 209892

I show OI ballooning on 7/7 where it grew from 73K to 216K. Range for the day was .55-.85 closing at .60...

To: jjstingray who wrote (77399)	7/14/2003 5:22:02 PM
From: Jack Hartmann	Respond to of 209892

There is no way this market is going to have any sort of sustained sell off with that many puts out there. Be interesting to see any correlation between lopsided puts and market performance. NASDAQ at 1754 now. I suspect you might be right, but offer no evidence other than a hunch and a trend. 100% long on mostly boring blue chippers. Almost looks like these underperforming hedgies are going to make a last stab at beating the indexes for 2003. Jack

To: jjstingray who wrote (77399)	7/14/2003 7:15:10 PM
From: patron_anejo_por_favor	Respond to of 209892

August expiry's only 5 weeks away...and 30 is over 2 points from where we are now. So we move down to 30, kill some time (and premium)...after they expire we go downtown for the "fall" festival...

To: jjstingray who wrote (77399)	7/14/2003 8:18:08 PM
From: Square_Dealings	Read Replies (3) \| Respond to of 209892

<There is no way this market is going to have any sort of sustained sell off with that many puts out there.> Unless the puts are owned by the commercials and they decide the market is going down. M

To: jjstingray who wrote (77399)	7/14/2003 8:47:30 PM
From: skinowski	Respond to of 209892

To quote ATA, the Bears are doomed... g/ng. On 120 min wiggles, SPX seems intent on building yet another "cup n' handle". NDX decided to forget about making handles and just took off to new highs. Viewing since last October, NDX is dealing here with resistance from the C = A level. Also right around here is the regression channel line since the all time high in March of 2000. The uptrend is still intact, but the air is getting thinner, the swings wider, and the investors - more nervous. For those looking for intermediate term trades imo the best position is probably still cash. Gold today was trying to show some signs of life. XAU gapped back up above what seems to be a plausible (former, recently tested) trendline on the weekly chart. Is it a successful break? Yo.