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Strategies & Market Trends : Options for Newbies -(Help Me Obi-Wan-Kenobe)
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To: joseph krinsky who wrote (2145)8/22/2001 8:37:03 PM
From: Dan Duchardt  Read Replies (2) of 2241
 
joseph,

It's just a continuation of a post made about it all.

Ah... so it is. I failed to pick up on the connection with the earlier posts, but reading back through them clarifies the argument. If the trader has a pre-existing agreement with a dealer for large size execution and then I suppose they can make the case, though I still think FRAUD is an entirely inappropriate description of what the guy did.. The latest link makes no mention of such an arrangement. I still think there is a big difference between the options market where there is an obligation to meet larger size and Nasdaq, where the dealers may voluntarily agree to fill larger size in order to attract clients. I don't think you will find many dealers these days who fit the description one of the many brokers that guarantee execution of customer orders of 1000 to 3000 shares at the NBBO regardless of the size of the NBBO quote The earlier links make no mention of the ridiculous spread on a low price stock mentioned in the latest post. How anyone can argue that he got 76 cents "more than he should have" on the transaction boggles my mind. There "should" never have been a spread nearly that wide to begin with.

Dan
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