Zeev, the pain I've been watching on the QQQ has not changed much since last week. I think we close Friday at NDX 1450 to kill all the 36 puts, but leave those calls in the balance.
A close at that level Friday would give us a weekly hammer as well as some clarity going forward. It would also help confirm some of the extreme 5-day Trins we saw.
To confirm the QQQ Max Pain level, I also watch the NDX max pain, which is around 1450 or so. I've found the NDX is often more reliable for marking Max Pain than the QQQ is, as there are not those big hedge plays on the NDX strikes.
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