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Non-Tech : Waterhouse Securities

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To: VincentTH who wrote (1282)	5/5/1999 12:29:00 PM
From: VincentTH	Read Replies (2) of 2076

ALERT: Option quotes at Waterhouse may not be real-time. I subscribe to RTQ-Thompson (http://rtq.thomsoninvest.net) and to my dismay, discovered that Waterhouse Option quotes are not real time. This morning at 9:15PDT approx, I submit a buy order for SQKEB. Thomson RTQ reports SQKEB at 1 1/4x 1 1/2 with date and time 5/5/99 12:13:58. (This is a free service BTW.) Waterhouse Option quotes reports 1 3/4x 2 which is out of wack. Actually I noticed the discrepancies yesterday when I placed a sell order for QCIWW. Thompson reported 3 5/8x 4 whereas Waterhouse reported 3 1/4 x 3 1/2. Not willing to miss the dip, I set my limit order to sell 10 contracts using Waterhouse quote of 3 1/2, which was filled immediately. The quotes then changed to what Thompson display immediately afterwards. I was cheated at least $250 (because I would have placed the limit at 3 3/4, splitting the spread using RTQ Thompson quotes). The amount is not significant enough to warrant a dispute, but I would like to warn other investors to double check the option quotes with another source before placing their orders. I learned my lesson, which is rather cheap this time. //Vincent

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