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Politics : Formerly About Advanced Micro Devices

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To: Kenith Lee who wrote (110786)5/14/2000
From: Joe NYC  Read Replies (1) of 1584306
 
I know Waterhouse does not and on one exchange only. This is why I had to rely on CBOE's real time site ($8 per month). $8 is worth the insurance.

I signed up for CBOE quotes myself. I had the same problem with only one exchange data showing up (with MSDW). It seems that my other boker (DLJDirect) has slightly better option quote system.

In many cases, as soon as I placed the buy order on the "ask" price, it changed higher even when the underlying stock moved down. This is clearly MM manipulation.

I do see the weird option quotes. I use mostly limit orders. But I wonder if I wouldn't be better off with market order on a illiquid option. I read somewhere that when a market order is coming in, the specialist (or whoever run this) asks the MM what their bid and ask is, without telling them what kind of order is coming. There are some pre-established limits to how wide the spreads can be.

Joe
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