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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (11158)	4/15/1999 7:22:00 PM
From: dealmakr	Respond to of 99985

heinz, Thanks for posting those ratios. With that better than 2 P/C ratio on the OEX yesterday, I was looking to go long and did at 1340, got headfaked at 1400 and missed the rest of the ride. The OEX chart for the day shows an intraday double bottom in the 660 area; quote.yahoo.com^OEX&d=1d When the upswing began could feel the wind pickup in NJ from the vacuum suction of all that put premium in Chicago. Good Trading Dave

To: pater tenebrarum who wrote (11158)	4/15/1999 7:23:00 PM
From: Gersh Avery	Read Replies (3) \| Respond to of 99985

Hi heinz Re : open interest liquidation in front-month options (which expire tomorrow) was largely confined to calls, with OI on out-of-the-money puts increasing slightly. Am I correct to assume that you are referring to equities and not the OEX? That would move the point of max pain up slightly .. I'm not surprised by this action. Are you familiar with this location? ez-pnf.com The folks that work over INTC seem to be very good at bringing in this stock for a soft landing on some strike. They have been doing a standard play .. drop the stock after earnings below the target strike then bring it up to over the strike then back down to the mark. When they drop it below the target they cover calls. When it then goes over the mark they cover puts then bring it on home. At this time I believe that they will be able to hit the $60 target for this one .. however today looked like they may have settled for the 57.5 strike .. probably not .. I still expect close Friday at 60 +-1/4. I paper traded 1500 contracts of the 60 calls today @ 1/8 (ask!) Anyway .. FWIW Gersh