Doug, I guess the idea behind Max-Pain is if there is to be|
some manipulation in the price of the underlying security, then
the option WRITERS are the ones that maximize their profit by
driving the price to a level where MOST of the option BUYERS
will loose money...
Which means those that buy options, counting on
volatility in either direction are "gamblers" and the ones
that drive the stock price to their mean option sell level are the
ones that must be behind the market "manipulation"
Another term for these guys is "smart money"...
Let enjoy the contest in a month :^)