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Strategies & Market Trends : Options
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To: Jill who wrote (531)1/3/2000 1:09:00 PM
From: StockHawk  Read Replies (1) of 8096
 
>>Generally I watch what the stock is doing and put in a limit order midway between bid and ask. If it's bumping around, up a little, down a little, I get it. But unless you are buying a huge # of contracts I can't say that a quarter makes a big difference.<<

Where to place your order is a subject that can certainly be debated, and I do not always follow the same strategy, but here are some thoughts:

If a stock is bouncing around it makes sense to try and shave a bit. However, if you are buying a very strong stock like QCOM or JDSU on a pull-back, it may be wiser to put in your order at the ask or even a quarter higher. If just once a month you miss a run because you were trying to save half a dollar or so, you will likely wipe out all you have gained on dozens of other plays where you successfully bought between the spread. JMHO

StockHawk
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