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To: Lee Lichterman III who wrote (513)	5/10/1998 10:22:00 AM
From: Ben Antanaitis	Read Replies (1) \| Respond to of 1316

Hello L3_aka_L3, but don't know how to compute it If you go to the Max-Pain web page in my SI profile link, you will go to a Max-Pain selection table for the stocks I track. At the bottom of the table is a link to a fully explained, worked out, example Max-Pain analysis that illustrates how to do the calculation and generate the Max-Pain graphs. It is just a study to develop history on a spectrum of stocks to see what this effect does, and when it does it. This phenomenon, also called "strike price pegging" has been written about in various publications, the latest was several columns in theStreet.com in their "Wrong!" and their "Saturday Options School" columns. Ben A. pipeline.com (<-- the correct link to BCA Software)