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Strategies & Market Trends : From the Trading Desk

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To: steve goldman who wrote (3998)	12/21/1998 6:47:00 PM
From: Jim Lass	Read Replies (1) of 4969

Thanks Steve, you confirmed what I found out when I called around today, no vendors could indicate size on options. How about when options trade on multiple exchanges, are there any vendors that can show a different bid/ask on CBOE and AMEX for example? If so, which ones? Also, when I talked with someone at the CBOE today, I asked about restrictions on the RAES system. I was told that the RAES was limited to 20 contracts and that the rules stated that a broker could not break up a customer's order to make it RAES eligible. Is there any reason why a customer couldn't break it up when giving it to a broker? In your example, instead of selling 100 @ 2 3/8, just send 5 consecutive orders of 20 @ 2 1/2 and take the 2 3/8 only if the MM can change his bid/ask fast enough.

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