Well.... I got nicely blown out of my call options position during the opening fiasco. Nice big fat loss.
On the way to $56, I put in a limit sell order, above the latest bid. Then, as GAC stopped, stabilized, and showed signs of turning, I quickly cancelled my order (with plenty of time, I thought). Too late -- the "amazing" options system we have here basically allowed someone to hold onto my sell order, and fill it ONLY once the stock was comfortably back up to $58/59 -- ie., they bought from me only when they couldn't lose. If the plunge has continued instead, well, then I simply "would have missed the market".
That's not the first time I've been screwed on options in a "fast market" ie., the market makers can pretty well do what they please. Heard the other day that a new electronic options trading system is coming to Canada -- somewhere around the year 2000! What a joke.
I'm pissed off, was RRRRRRRRRRRRippped off, and can't do a bloody thing about it.
Go Geac!
s/s |
