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Strategies & Market Trends : Options

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To: RoseCampion who wrote (1446)1/23/2000 7:50:00 AM
From: Wyätt Gwyön  Read Replies (2) of 8096
 
Rose, bad deal on those calls. The Q got very crazy near the close and orders took a long time to fill (I didn't get my put-sale fill for 45 minutes, but at least my limit was respected <g>). One thing I wonder: could you have just waited for the market to close, and then sold them in the after-market? Doesn't the options market stay open for a minute or so beyond 4 p.m.? That would have given you a print based on underlying close, I guess. Sounds like instead what fido did instead was fill you "close to the close" instead of "at close". MM's could have other excuses, like exploding IV--not that it matters for your DIMs! But one must think there'd be a "safer" way to unwind. Given how tranquil the Q was all day, the crazy action of the last 15 minutes or so was a surprise (probably didn't surprise the salty dogs though, LOL).
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