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Non-Tech : Bid /Ask Spreads - Market Manipulation
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To: Sidney Reilly who wrote (265)2/7/1997 12:35:00 AM
From: ----------   of 308
 
Bob:

The MM, as a rule is NOT an investor. I mean no dis-respect to either
profession, but you are FAR better off considering him to be a bookie.

A theoretical 25x5 b/a means either:

1) he has a legitmate bid slightly above his, that he is trying to accumulate for the customer.

2) Like any good bookmaker, he is merely trying to square up his position, and make his "take" off the "juice". (In this case, the spread between the bid & ask.)

Doug
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