ajtj99's Market Pulse

[ajtj99]

Wow, that QQQ action is pretty impressive, although I'd caution anyone against using Yahoo's numbers (they're sometimes unreliable). 34 is quite possibly October Max Pain currently on the QQQ.

However, the CSCO options for October are just the opposite, with huge call positions at 17-1/2 and 20 and very little put open interest at those strikes.

INTC has more calls than puts at strikes 22-1/2 and above for October, Dell Pain is at 32-1/2 for Oct, MSFT pain for October is firmly at 25, with 100,000 more calls than puts at strike 27-1/2.

NDX Max Pain for Oct. is 1300 solid. Max Pain for the SPX is 995 for October presently by the eyeball method.

I think the best way to reconcile these conflicts in the put/call in the index and equities is to have a local high here soon, a dump after Sept. expiration, and a rise into October expiration. We'll see if that transpires.