Porter, my comments about "manipulation" was not meant from an options perspective, it was more pointely directed at the old style of equity floor trading, were traders were often well aware of on-stop orders and in the cases of illiquid stocks had the ability to move the stock to trigger them. As far as specific instances that could be looked into, these are hard to isolate, however it is interesting that often this type of trading takes place at other exchanges and or markets and is a well known fact. I'm afraid that all too often that investors put their stops just above or below a recent hi-low setting and often get taken out. Although this does not mean that manipulation takes place, investors might be well advised to move their on-stops a little farther away from these specific prices.
I'm afraid I don't know much about the new order driven system that is being planned, however it would seem that it would make more sense for the system to have certain parameters built in where a market order could not exceed a certain level (price).
Although I understand your curiousity into my experience into trading, I wonder if your questions are hiding something more sinister, (like I don't know what I'm talking about and how dare I question any postings). No matter, I have been involved in trading for almost 19 years, including trading pro, futures trading and options trading both on the floor and off. I hold no pre-conceived ideas as to what trading or for that matter trading vehicles should be and pride myself on keeping an open mind.
As for adding credibilty to my comments, it is my understanding that this is an open forum and my opinions are my own - take them at that. My contributions to the options market place - hmmm, how about none, simply that I'm here and trade. |
