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Strategies & Market Trends : Sharck Soup

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To: Sharck who wrote (36849)	10/27/2001 10:10:14 PM
From: Joe Lyddon	Read Replies (1) of 37746

A few years ago, before internet trading was so prevelant, I CALLED my broker and bought a CALL or PUT.. . . can't remember nor can I remember the symbol. . . BUT I was trying to make a short profit. . . I figured the trend, etc. properly. . . about 3-4 days later, I was about 2 points ahead on the stock price. . . I figured I would also be ahead on my option so I called my broker and closed out the transaction. . . I actually LOST 1/4 point! The broker never satisfied me with THEIR excuses as to WHY. . . I had a securities expert look at it. . . He mentioned the complete formula whereby Volatility & other things that ONLY THE FLOOR KNOWS enter into the formula. . . At that point, I KNEW they were out to screw you no matter what! I still think that! It is NOT a level playing field. . . THEY always know more than you because you can't possible know all of the factors (at least you couldn't then). . . It was a ONE WAY STREET! I have stayed away from them ever since! Just my experience with the damn options! Joe

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