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Strategies & Market Trends : Options

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To: Poet who wrote (143)12/27/1999 1:23:00 PM
From: Jill  Read Replies (2) of 8096
 
I am having a problem. Has anyone had this before? I want to unload a few May 45 GMST that I bought for about 7, they are now at around 28 (yesterday 31). Fidelity says the market maker won't "take" my order and won't open trading on the option and there is nothing they can do. They seem indifferent. They say they will have their trader call and ask for a report. I have called twice. Nothing happens and the order is open even when I place it at market, which has been determined by this guy! It's at CBOE. Fidelity says there are times they just decide not to trade an option and there is nothing you can do.

This makes no sense. You could theoretically be stuck with very profitable calls that you couldn't unload no matter how hard you tried?

Jill
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