Don't count it; it did not work last month, for example. Max Pains do not work in trending markets. For what it's worth, the stronger hands seem to be buying options these past couple month. Every jump preceded by sudden massive call buying after prolonged high P/C, and dump preceded by sudden put buying after a period of low P/C. Go figure; don't count on anything staying the same.
When the markets are near max pain, then such a tactic works, when they are far, panic covering by naked writer amplifies the deviation from max pain. It looks as if this month, the latter will rule.
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