Today is the day of Option Expiration.
As always, based on the theory of Option Pain, stocks will be manipulated in such a way where Option buyers suffer the most.
Option Pain can be calculated from CBOE data. FAS option pain is at $21, doubt the stock can climb that high, however, it will head closer to that level in order to allow more PUT buyers to lose money.
BAC option pain is at $15, GS is at $145.
DOW option pain is 10400. Let’s see if the manipulators can spark a rally today.
Daring option pain players love to buy stocks or short stocks based on the option pain level.
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