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Here is something I observed last week that might be of interest. The CBOE
put and call TRINs tend to do "binary" switches and "saturate" each day. That
is they don't trend as the NYSE TRIN tends to do. Also, because of their
composition they tend to lag the OEX. Their value appears to be in adding
perspective to holding or folding and confirming trend. For example, on
Friday the July OEX options went through a pre-expriation week Friday gyration
with puts first doubling and then giving it all back when the calls doubled in
the afternoon rally. The afternoon rally was evidenced in the trins by the
Put trin doing a binary switch to over 1.0 and the call trin trending below
1.0. The next post shows the same "switch" for Wednesday and Thursday. The
BMI symbols for the CBOE call trin is @SCC, the put trin is @SPC.
BobR
Attachment Converted: "c:\eudora\attach\CBOTRIN2.gif"
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