John, I would set the limit at the offer, 3 and several eighths, all or none, cancel in one hour. If you try to get in between the bid and offer, you will simply never get filled.
Ah, in the good old days when I sold these things in the 1000s, I could pound my square peg into that round hole. But they simply aren't going to be frightened enough about losing an individual's business to change the spread.
The easiest way to get a cheap price for the fund was go to a big broker in confidence and say I wanted to sell 4000 of a certain call at a reasonable price. Then, in order to better screw me, they would come back and say there were 70 billion contracts for sale at that price. So, I'd say, buy me 4000 of them. <G> The next time, I had to do it the other way around and really be selling to double tap them real well.
MB |
