Option Spreads, Credit my Debit Message Board

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Strategies & Market Trends : Option Spreads, Credit my Debit

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To: OX who wrote (1366)	4/16/2000 1:30:00 PM
From: Mark Z	Read Replies (1) of 2317

(once it couldn't find a valid option ticker for one of the legs I gave, but could have been a temporary glitch). Actually, this is not a temporary glitch but a 'new' problem at Schwab. They have to manually enter all option symbols into their system & not infrequently in the past 45 days or so their system just doesn't know of a symbol you want to trade. Two ramifications: you can't trade that option online & when you phone it in, it takes upwards to 5 minutes for them to process the new symbol & place your trade. They accept no responsibility for any price erosion due to the delay in processing the symbol. Otherwise, the advanced option execution screen works well. Just keep in mind all trades on that screen are 'boated' (manually reviewed) so, again, expect some delays (usually not significant, occasionally upwards to 10 minutes) in getting your trade to the exchange. Also, no ratio spreads (or purchase of x00 shares/writes of anything other than x calls) are allowed on those screens; they must be phoned in. I.e. buy 1000 CSCO, sell 5 calls is not permitted; you must either leg into the shares (buy 500 & sell 5, buy another 500) or leg into the buy-write (buy 1000, sell 5).

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