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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Dominick who wrote (2155)	7/29/1999 2:35:00 AM
From: Bilow	Read Replies (1) \| Respond to of 18137

Hi Dominick; Regarding terminology, what I mean by "hit the offer", is to buy at the market from the lowest offer. In the example above, with a stock trading at 15 by 15 1/16, the bid is 15, and the offer is 15 1/16. So hitting the offer means buying stock at 15 1/16. My terminology is probably confusing, and possibly incorrect. I used to sit next to an ex CBOE options pit trader, and he and I always seemed to have some subtle difference in what we meant by the verbs "hit", and "lift". Obviously, he was the pro, and I am just a learner... -- Carl