Off-topic Thanks, Jon. I did mean a dedicated options broker like R.E. Lafferty. I'm going to investigate using them.
And, yes, I do think the specialists (more so at the Philly, I understand the CBOE is open outcry) do occasionally rip you off. There are a couple of options that are exclusively listed at the Philly I used to try to sell from time to time. If I was using a limit price, I would see my offer disappear, but no print. I'd call to check to find I wasn't filled. If I then put in a cancel, I'd face a five to fifteen minute lag to find out if I was out. Amazingly, if the market moved against me, I was filled. If not, I was canceled. I should be careful about generalizing, because it does seem to vary by stock and there are obviously many more decent specialists than bad ones, but I am still outraged by the bad brokers behavior and lack of repercussions. |
