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Max pain indicates 106 on the SPY and a glance at the Mar. contract it
looks like somewhere between 108 and 110. If that proves to be a valid
assumption you could be looking at a 30-35 point drop in the next few
days. Max pain isn't always right but it does give one some idea of
where the pressure cold come from. No there are huge put holdings in the
SPY and they could be protective, but that is also very tough to tell.
Right now there are a lot of puts out there for m\March expiration.
Check the open interest of puts versus calls.
Ben wrote:
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> User
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> : *Ben*
> <http://www.timeandcycles.com/board/memberlist.php?mode=viewprofile&u=100>
> (profitok@xxxxxxxxxxxxx <mailto:profitok@xxxxxxxxxxxxx>)
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> Subject
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> : *Re: spx update 03/12/10*
> <http://www.timeandcycles.com/board/viewtopic.php?f=5&t=3812&p=9074#p9074>
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> Mode
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> : reply
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> Hello
> As of this mornning estimated close on friday option expiration moved up
> above 1130 and above 1135
> Ben
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