Friday, August 18, 2006


Sorry for the long delay since my last post. I haven't been in the blogging/trading mood lately, partly because the markets have been so frustrating. While I was gone, I got a job in a city that's south (across the border) from the city that I used to live in.

I'd like to make a comment about Google. I think today is the first time in over a year that GOOG did not close at its "max pain" point. "Max pain" is the price at which most options will expire worthless, thus maximizing the profits of the options issuers. The "max pain" point for Google is 380, but it closed at 383.5. (Normally, if max pain was 380, GOOG would close at 380.05 or something like that)

I think this is extremely bullish for Google in the short term. What I think happened was the MM's (Market Makers) were trying desperately to "pin" GOOG to 380, but they were unable to because the demand for it's shares were so strong. Because of this, I think the chances of GOOG rising on Monday (and in the near term) are pretty high.


Blogger Ben Evans said...

I think that is going to be interesting to see where GOOG ends up on September expiration. Will the OCC MM try to pin it at $380.00 again. I see stability in the price of GOOG until that time.

I believe that we should see some rise into the next earnings season.
Good post.



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