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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: JohnM who wrote (1066)	6/18/2001 12:11:48 PM
From: Uncle Frank	Read Replies (1) of 5205

>> In general, I'm finding that the trading is so thin in option premiums that I place market orders... But I'm following my own personal rules for stock purchases. Anything different about selling calls? Yes. As we've discussed before, options are traded on several exchanges, and quoted bid/ask prices are not necessarily those that will be in effect on the exchange your broker will use to fill your order. And contrary to the implication of your comment, the potential for disparity (and disappointment) will be greatest on thinly traded issues. I always use limit orders, having found that the cost of doing so is very small in comparison to the risk of getting a market order filled at a disappointing price. duf

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