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Strategies & Market Trends : The Options Box

QQQ 590.07

+0.8%

Nov 21 4:00 PM EST

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To: Poet who wrote (365)	5/16/2000 4:33:00 PM
From: Mark Z	Read Replies (1) of 10876

Did you know that orders of ten contracts, placed to sell at the ask, are executed automatically and aren't passed through the specialists? Is this true of 'fast markets' as well? Schwab tells me they can turn off auto-ex in those conditions (although what a 'fast market' is is entirely arbitrary). You meant 'sell at the bid', right? I don't think they'll auto-ex a sell order at the ask!! BTW, does anyone know what the manning responsibilities are for small (1-5 contract) option orders? Do bids have to be displayed if the order is for a few contracts or can they not display it? If your QQQ puts were for May, I think it was good you GTFO'd. I have this nagging feeling this is going to be a de ja vu to last month where we rally into Friday and come Monday we start to tank again.

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