Pinning the Market / Stocks and Options

["Jerry Gress" <thegress@xxxxxxxxxxxxx>]

Dear List Members:

Recently I toured the PCX, and asked does options come before stock pricing
or vice versa?  Was told when the market maker on expiration day has to
adjust their position can one tell if the stock is going to end at the
strike price.

Does anybody have better explanations or detail??



Jerry Gress
Stockton, Calif. USA
trader@xxxxxxxxxxxxx

PS. The top market maker made 10 million last year!