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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin!
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To: OX who wrote (4291)3/28/2000 6:11:00 AM
From: Patrick Slevin  Read Replies (1) of 7434
 
The rules have changed since I traded Options (and Stocks) proactively. Used to be that the stock options traded a bit later and the after hours trades were limited to Instinet----large traders or traders who had access to Instinet.

Then, it was a bit risky in the after hours options market because the Chicago MMs in options had no way of hedging a DELL position, for example, if a Buy order came in for Puts. So the Ask went up and the Bid went down.

Now I guess certain stock can be hedged after hours through ECNs (I think they are called). Still, there is a dead period there after 4 Eastern when the SnP Futures are pretty mch the only game in town. I imagine the SPX and OEX Options get a trifle expensive during that time frame as well. If I was in Index Options and looking to Exit it usually took a real gut feel call to decide whether or not to wait until after 4 to Exit.

I think the last time I tried it I was at a horse track outside of Dallas trading off CNBC. Fitting situation, wouldn't you think?
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