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Strategies & Market Trends : Options-Upcoming Stock Splits

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To: hpeace who wrote (273)	3/22/1997 6:12:00 PM
From: Baja Don	of 415

To All, You can learn from your mistakes and from others so I'm going to give you one of mine. You're at risk of having the Market Maker handing your head back to you if you place a "market order on a split announcement if its been halted from trading". Example- MTC announces 5 to 1 split. I place a mkt. order for the calls 2 months out. Get filled a 9&3/8. Two days later with no decrease in price the call is going for 6&3/8. The Market Maker has just said "wham bam, thank you mam! Hope this saves one of you some money, Don

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