Options Max Pain theory has been debunked so many times. Don't even bother with people who think there's predictability here.
There's a lot of open interest in the Feb Call Options but also a lot of open interest in the Feb Put Options. You don't know who sold covered calls to grab some premium (in which case if the Options specialist was the one who bought those calls or an institution, they would have every incentive to run the stock up, not down).
Trust me, I've been trading options full time for 20 years. Been there, done that. Tried to trade options based on Max Pain Predictions of where "the powers that be" will manipulate the stock on expiration day and it usually doesn't happen the way that Max Pain Conspiracy Theorists believe.
drop just like that without reason. lot to look forward to
1.earnings mar 13
2.morgan stanley conference for investors on mar th
3.lawsuit response by month end
4.lot of short interest
5.westjet might announce soon
6.gogo expects to complete wifi coverage all across canada by end of 1st quarter 2014
we all know about 70-mbps GTO patent technology testing, Delta/Jal international expansion, Airmexico deal, 1000 faa certificates, deal with inmarsat for global coverage
and it just drops to 20 for some put options to make money.
there needs to be some justification