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Strategies & Market Trends : Options for Newbies -(Help Me Obi-Wan-Kenobe) -- Ignore unavailable to you. Want to Upgrade?

To: Jon Tara who wrote (1489)	7/4/1999 5:06:00 PM
From: Eye	Read Replies (1) \| Respond to of 2241

Need help understanding selling low volume options What's the best way to sell an option when there is little or no option trading volume? If a market order is placed, is it likely I will at least get the current Bid price? Or would it be better to place a limit order equal to the bid? How likely/unlikely would an order go through? I want to write some covered calls against AMCC, CNXT, and VTSS ... the contracts I'm interested in have moderate open interest and little or no daily trading volume ... I look at the latest quotes from cboe and see attractive bid prices, but no volume. Does the cboe keep their bid/ask prices "current"? I'm nervous about placing a market order when there is no volume ... afraid I'll be eaten alive by market-maker ... Thanks for any help