Thanks, Len - some interesting reading. I haven't read it thoroughly yet, but from what I saw, it looks like the only one obligated was *me*! Since I was advertising I'd sell shares at 1/8, if someone offered to buy some from me, I had to sell 'em.
What I'm confused about now is, if this were a really illiquid stock, and someone put in a market order to buy, and I was the only one offering to sell at 1/8, what happens? That is, assuming that person can't trade on ISLD. They see the best offer at 1/8 ... but they get filled at 3/16? It doesn't seem, from what I read, that the MMs have any obligation to fill at 1/8, since their best offer is 3/16. Interesting. I'll have to do some studying on this.
Thanks again,
Ken |
