Meet Gene, a NASDAQ Market Maker Message Board

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Non-Tech : Meet Gene, a NASDAQ Market Maker

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To: TimF who wrote (48)	7/26/2000 9:45:25 PM
From: gene_the_mm	Read Replies (6) of 1426

REGARDING OPTIONS AND OPTIONS SPECIALISTS My advice to you when buying or selling option: Good luck. I am not here to blast the options specialists but my personal opinion is that UNTIL there is some form of INSTANT execution, similar to SOES in NASDAQ, I will absolutely NEVER buy or sell options unless it is for a very long term trade. I have personally had such atrocious experiences of backing away from options specialists it makes me sick. I understand that options are more complex financial instruments (because of the inherent 'time value') than stocks but what I witnessed several times was not to be believed. There should be some form of guaranteed print that the specialist can honor AND some form of electronic order delivery, such as DOT or SUPERDOT on the NYSE. I am almost certain that at least the CBOE has no such electronic delivery and confirmation (correct me if I am wrong...however it won't change my opinion). I would LOVE to get into a conversation with an options specialist to hear their side of this story. Anyone? All the best, -- Gene

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