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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: VincentTH who wrote (10350)	4/13/1999 7:07:00 PM
From: NateC	Read Replies (1) of 14162

It is very frustrating. If you place a Buy order to split the Bid/Ask, the Bid would just move up to your limit and sit there, and sometimes the Ask would move higher! After a few times like that, I just cancel my order, wait a little bit, then place the limit at the ask. As soon as you raise your limit to meet their ask, they will adjust the bid/ask higher!!! I've been having a little luck at getting fills....even with Ameritrade......a miserable excuse for a broker........although I don't have any realtime info...and I know I should have it....but I monitor the "old" info...via Dreyfus option quote page....and then order my underlying....often 1/8 under the ask....and then sell the CC...maybe the next day, or a week later......with another limit order...generally 1/8 or more above the bid. Am I giving up too much? Should I split the bid/ask difference in half with these limit orders?

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