Don't really understand how max pain coulld be handled so far ahead of expiration. Explain it to me sometime. <g> Interesting case for lower lows later this summer if you look down to the put-call analysis. <A HREF="http://www.amateur-investors.com/Weekend_Market_Analysis_May_15_04.htm" target="_new">http://www.amateur-investors.com/Weekend_Market_Analysis_May_15_04.htm</A>