To: arthur pritchard who wrote (81450 ) 11/20/1998 8:58:00 AM From: Ben Antanaitis Read Replies (3) | Respond to of 176387
Mr. Pritchard, ***OT*** First: Let me help you put a stop to your inability to navigate my web site. See: pipeline.com This is the current Max-Pain™ graph for DELL and it is based on the CBOE data downloaded on Wednesday night 11/18/98. It even notes the date the data was collected. The date the web page was created is listed at the bottom of the page along with our Copyright and Trademark notices. The most current Max-Pain Point™ graphs are always linked via the last line in the selection table. Second: Laura's calculations are incorrect, if she is attempting to duplicate the Max-Pain Point™ calculation. She states:I totaled the OI values for calls and puts for Nov strike of 55, 57.5, 60, 62.5, 65 and 70. This is only a subset of the open interest strike ranges. The Max-Pain calculation requires inclusion of all the strike prices that have open interest in them. In Dell's case there are contracts in the strike prices from 27.5 to 80: Strike Price CALL Vol PUT Vol 27.5 (.DLQKC) 4104 (.DLQWC) 57493 30 (.DLQKF) 8792 (.DLQWF) 12225 32.5 (.DLQKZ) 595 (.DLQWZ) 3304 35 (.DLQKG) 1260 (.DLQWG) 5591 37.5 (.DLQKU) 2316 (.DLQWU) 9135 40 (.DLQKH) 6391 (.DLQWH) 12309 42.5 (.DLQKV) 6906 (.DLQWV) 9197 45 (.DLQKI) 6921 (.DLQWI) 10925 47.5 (.DLQKW) 5406 (.DLQWW) 6891 50 (.DLQKJ) 18584 (.DLQWJ) 17357 52.5 (.DLQKX) 3628 (.DLQWX) 10979 55 (.DLQKK) 12707 (.DLQWK) 21617 57.5 (.DLQKY) 6302 (.DLQWY) 10403 60 (.DLQKL) 27385 (.DLQWL) 17979 62.5 (.DLQKB) 6571 (.DLQWB) 5584 65 (.DLQKM) 34237 (.DLQWM) 15065 70 (.DLQKN) 50204 (.DLQWN) 12267 75 (.DLQKO) 30383 (.DLQWO) 3775 80 (.DLQKP) 12211 (.DLQWP) 1508 BASED on CBOE data from 11/18/98 AS you can see, the actual range encompasses a much larger number of contracts than the subset Laura used. Of course, she is free to do anything she wishes, but she cannot call it a Max-Pain™ calculation. Anyone wishing to see how a Max-Pain calculation must be done, and when it may and may not apply (esp. in DELL's case) should stop in at my web site and read the detailed explanation of the hypothesis and the technique. Ben A.ez-pnf.com