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Strategies & Market Trends : Canadian Options

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To: tyc:> who wrote (1517)	4/18/2000 6:20:00 PM
From: Porter Davis	of 1599

>>My offer was never posted. I'm surprised by this. Montreal has a "post it or toast it" rule whereby every client bid or offer is posted, and if it is for less than the specialist's board lot (at least twenty contracts), then the specialist must honour that bid/offer for at least ten contracts or trade it to remove it. I don't think this applies to non-client or pro orders, but I'm still learning the system. For now I haven't figured out how to over-ride the automatic spread algorithm. When BCE closed with a $2.00 spread on Friday, the system widened our quotes to an obviously unusual extent. With stocks moving ten dollars a day recently I find it amusing to see clients CFOing their orders by five or ten cents, still not trading, and missing the whole move. I guess it's just human nature. Happy trading. Porter

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