Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 226.05

+1.3%

Nov 14 9:30 AM EST

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To: Jacob Snyder who wrote (32553)	9/22/1999 7:46:00 AM
From: SJS	Read Replies (1) of 70976

Jacob, I play options fairly consistently and I agree with your comments about waiting waiting and more waiting. These guys are the next thing to be "fixed" by the SEC. Options that trade at 1/16 bid, 5/16 ask? Plus commissions? HA! Ridiculous. Options that trade with a 2 points spread? Ridiculous. Try this: Bid at 20 for the SOX October 540 puts, and ASK at 22? So hypothetically, I TRY to buy 10 options at 21 (I am a reasonable guy......allowing myself to be $1000 in the hole before I start.....) but the money-crazed MM at the Philly won't let me. So I wait and wait and wait some more, and he finally condescends to sell them to me at: 22 (after the SOX down moves to value the option AT 22....) and now I am 2,000 in the hole already...... Plus commissions? Absolutely ridiculous. Steve PS: Selling doubles that pain, even after a profit.

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