Options for Newbies -(Help Me Obi-Wan-Kenobe) Message Board

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Strategies & Market Trends : Options for Newbies -(Help Me Obi-Wan-Kenobe)

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To: clochard who wrote (1196)	1/13/1999 8:01:00 PM
From: Madpinto	Read Replies (2) of 2241

I can relate to you better now that I personally experienced the thievery of the Philadelphia Options Exchange. I entered an order to buy 25 puts. The order reached the floor as the stock was screaming up. The market on the puts was 1 1/16 to 1 5/16. I bought 10 at the offer of 1 5/16 and 15 at my limit of 1 1/2. Nothing is illegal about this, but I deserved a better fill. The PHLX traded through the other exchanges offer to fill me at the higher price. I tried to complain, but my firm was too busy. The PHLX investor relations had no time for me either, and told me to call my firm if I wanted help. Cheating is a great way to make a living if you can get away with it!

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