Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: Eye who wrote (11156)	7/6/1999 10:11:00 PM
From: KFE	Respond to of 14162

Eye, 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? Most option exchanges have auto-execution systems for 10 contracts, the CBOE's is called RAES. If your firm uses an auto-execution system then whether a limit or market order is placed you should get the quoted bid price at time of entry. Does the cboe keep their bid/ask prices "current"? I don't know because I don't use them for quotes but I doubt they are real time quotes. Someone else on thread should know the answer. I'm nervous about placing a market order when there is no volume ... afraid I'll be eaten alive by market-maker Auto-execution for 10 contracts at current quote should not be a problem. Problems could happen if quote changes from time you see quote until time your firm enters order. Caution:if you enter order during opening rotation then if doesn't matter if limit or market order, you won't be executed until completion of rotation even if at bid price. If market order at this point you might want to have tube of lubricant handy. Good Luck. Ken