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Strategies & Market Trends : From the Trading Desk

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To: Steven Bowen who wrote (3140)	6/2/1998 9:26:00 PM
From: steve goldman	Read Replies (1) of 4969

Tough one steve, sorry to hear it went like that. The AMEX broker was not obligated to doing the trade but your broker should have been watching the order and gone to the better market. Usually one of the markets is better right from the outset yet a bidder could have come in at 8...question is......if shouldhave been your offer on the AMEX at 8 since it wasnt bid.....not only did your broker mess up in not going to other market as it got better, but broker from other firm should have hit your offer, but rather wen to the exchange you weren't on....i have seen situation where amex broker tries to find a seller at 8 1/8, 1/4, knowing that they can take yours at 8, or sees if it goes lower and always knows he can take yours if it doesnt. Sounds more like a quality issue that anything giving rise to a possible complaint. Options orders take a lot of work on my traders' behalf which is why they cost more...$2000 goes a long way towards a few extra bucks on each ticket. Regards, Steve@yamner.com

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