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To: stevedhu who wrote (47613)	7/8/1999 8:16:00 PM
From: double-plus-good	Read Replies (2) \| Respond to of 95453

Question regarding trades cancelled by MM's. I hope someone on the board has the technical knowledge of the markets to provide some clarification on this issue. As i mentioned previously, I decided to sell some of my FLC calls today. From my immense hoard of 10 Sept 7 1/2 contracts, I put in an order to sell 4 at 2 1/2. My order represented the best ask and was filled around 2:30. I received a telephone confirmation of the trade; it appears on all the option quotes as the only activity in the sept 7 1/2 contract today. I was informed by a telephone message that the trade had been canceled by the market maker and that indeed I had sold no contracts. The reason I was given by a representative was that the best bid was 2 1/4. My response is that the best ask was 2 1/2. Has anyone had anything similar occur to them? What rules are followed in the event of such a dispute? I find it difficult to fathom that the market maker can yank a confirmed trade. If i make a mistake while executing a trade, I assume i must eat it. Does this not apply to the MM. TIA for any info or experience as it relates to this matter. From the perspective of many it is likely to be a small potatoes issue. Nevertheless it has really got under my skin. brian