Nate, Mark, and Ken,
I appreciate your help on this. I have a somewhat better understanding of this now. As far as exchanges are concerned, in my case, it appears to be moot. If I'm reading the CBOE quotes screen correctly, EDFY's options trade only on the AMEX.
I still can't figure out why the spread wasn't executed. Even though it was a "not held" order, I was giving the market makers all they wanted on their spread. Thus I figured the best efforts of the floor broker would be good enough; that's why I changed the net credit from 1 3/4 to 1 5/8.
I might try it as seperate orders, but I thought I saw the bid/ask on the two options in question being adjusted during the day after my order was first placed (the potential net credit varied from 1 1/2 to 1 5/8, but the latter prevailed 95% of the time). Of course, since the stock was moving around, I could have been seeing lags, not a conspiracy. With luck, two market orders entered one after the other would be fast enough not to burn me, as limit orders trying to shave an 1/8 almost certainly would. If I was really lucky, the stock might move in my favor. Yeah, right. I'll wait on that strategy until I'm truly desperate.
Thanks again for y'all's help. Hope you're having a good weekend.
Cheers, Tuck |
