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

To: tuck who wrote (11260)	7/20/1999 2:53:00 PM
From: David Wright	Read Replies (1) \| Respond to of 14162

Tuck, I actually think that in the low volume options, the MMs are gambling that nobody cares, since (almost) nobody trades them anyway. I can't imagine anybody placing an order for 500 contracts to arbitrage them a few 1/16s anyway, since there's nobody out there to trade the other side. I have certainly seen plenty of market orders and orders that split the bid/ask result in a giant shift in premium value about 12 seconds after the order is placed. It's like you have to whack them on the elbow just to get them to even price the darn things. Then they certainly don't do you any favors. I think you are right to wait several days on EDFY. It has just poked through the lower BB, but nothing says upturn yet to me. I haven't followed it, so I don't know if general market conditions move it very much. Today is not a day that would enhance it, for sure. Good luck, Dave