Option Spreads, Credit my Debit Message Board

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Strategies & Market Trends : Option Spreads, Credit my Debit

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To: jjs_ynot who wrote (1833)	12/3/2000 12:02:18 PM
From: Dan Duchardt	Read Replies (2) of 2317

Dave, I have watched the Market Makers move the bid/ask against me when my order hits the floor with surprising regularity (probably once a day) You are not alone there. There have been days when conditions seemed to be favorable for actively trading options, and I have done 10 to 20 trades. Backing away from published quotes is about as probable as giving a fill. Orders I place between the spread usually are posted eventually, but in almost every case they are held for the full 30 seconds allowed and frequently much longer. I've had several that never did get posted. Some of this comes from the lack of automation in the options market, but I think it is a sorry state of affairs. The SEC has at least commented on these issues, directing the exchanges to clean up their act, but until the market becomes fully automated I don't expect a major improvement. Dan

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