<< also, if your broker deals with say the Philadelphia exchange for options, and OptionStation shows that the best price for an option you want is on the CBOE, how will you direct your order on-line...? >>
Does anyone know if OptionStation shows multiple exchange prices on options? Poet?
If you are dealing with a broker, live, via telephone, then that individual should be willing to route an option order to any of the 4 exchanges that you specify, providing that contract is traded on that exchange. Further, IMO they will, if asked, inform you of the quotes on each exchange.
Electronic trading is a different matter. I believe that there are relatively few brokers with on-line trading access that will allow a customer to route an order to a specific exchange at this time. Two that I am aware of are Preferred Trading and Interactive Brokers. There may be others.
Schwab does give visibility of the different quotes on multiply-listed options via their 1-line quote window, but does not offer the routing unless you call and talk to an option trader. In the quote window, if you add a .ao, .co, .po, or .xo to the option symbol, (x is Philly)it will give you the current quote (and that days volume as well) on that specific exchange.
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