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Technology Stocks : QUANTUM
QNTM 7.010-4.0%Jan 2 9:30 AM EST
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To: Rob S. who wrote (4970)11/13/1997 6:22:00 PM
From: robert elmasian   of 9124
 
Rob, I would like to add another point to the problems you
and Dale made about trading options.

In many ways, trading option is like trading
penny stocks. They typically have
have limited liquidity and big spreads. For
example, today the November QNTM call at $30
traded less than 400 contracts. That is the equivalent
of just 40,000 shares, very tiny compared to the 5.6
million regular shares exchanged today.

At the close, the bid was 3/4 and the ask 1.
Market makers that buy a contract at $75 sell
it back at $100. That is better than most bookies
do. If they can maintain a buy/sell order balance,
being a market maker is like owning a casino.

Would I ever buy options knowing what a rip
they are? No way. Oops, looks like I have
10 QNTM calls in my account. Oh well,
why take my own advice??

Bob
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