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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: RoseCampion who wrote (41777)	9/18/1999 3:13:00 PM
From: Kayaker	Respond to of 152472

Luckily I think it's usually been CBOE. But not so lucky, since the Pacific Exchange would almost alway give you a better price. In any case, I've never had a market order on Q options not execute A market order alway executes, but 95% of the time it gets routed to the CBOE regardless of which exchange has the best price. Any chance what you're seeing with the quotes is just time lag Don't think so. Both the CBOE and PACX update their quotes quickly when the stock moves. Sometimes several times a minute. The AMEX doesn't update their quotes as much. How can your orders simply "not execute" if they're at the posted price? Because I'm trying to sell at the Bid on the Pacific Exchange and they won't route the order there. If this 'non-execution' happened as a matter of course, wouldn't Pershing and/or TDW stop routing orders through the Pac exchange? Pardon my paranoia, but I think it's all a scam. I think they divide up options trading to avoid competing with each other. Other options trade almost exclusively on the AMEX; depends on the stock. BTW, I find RT Times & Sales invaluable for options. I can see where to place my price by looking at each exchange. There's an ex market maker on another thread I'll fly this buy when I get time. I remember he once said that the motto among market makers was "F___ the customer". Gotta go. Am packing this weekend for move next week. Good news is, it's an ocean front house (rental) and I can spit in the ocean from my deck, at high tide of course.

To: RoseCampion who wrote (41777)	9/18/1999 3:20:00 PM
From: Kayaker	Respond to of 152472

Luckily I think it's usually been CBOE. But not so lucky, since the Pacific Exchange would almost always give you a better price on a sell. In any case, I've never had a market order on Q options not execute A market order always executes, but 95% of the time it gets routed to the CBOE regardless of which exchange has the best price. Any chance what you're seeing with the quotes is just time lag Don't think so. Both the CBOE and PACX update their quotes quickly when the stock moves. Sometimes several times a minute. The AMEX doesn't update their quotes as much. How can your orders simply "not execute" if they're at the posted price? Because I'm trying to sell at the Bid on the Pacific Exchange and they won't route the order there. If this 'non-execution' happened as a matter of course, wouldn't Pershing and/or TDW stop routing orders through the Pac exchange? Pardon my paranoia, but I think it's all a scam. I think they divide up options trading to avoid competing with each other. Other options trade almost exclusively on the AMEX; depends on the stock. BTW, I find RT Times & Sales invaluable for options. I can see where to place my price by looking at each exchange. I often buy/sell at a price between the bid and ask and it gets filled, even though the bid/ask doesn't touch my price. I save more than enough to pay for the RT quote package. There's an ex market maker on another thread I'll fly this by when I get time. I remember he once said that the motto among market makers was "F___ the customer". Gotta go. Am packing this weekend for move next week. Good news is, it's an ocean front house (rental) and I can spit in the ocean from my deck... at high tide of course. :-)

To: RoseCampion who wrote (41777)	9/18/1999 10:42:00 PM
From: PAL	Read Replies (3) \| Respond to of 152472

Rose: Here are some interesting plays on QCOM options: 1. Jan00 expiration: If you are bullish and expect than QCOM is > 192, then buy AAOAT Jan00/200 call at 22 1/2 financed by sell AAOMS Jan00/200 put at 30 1/2, net credit $ 8/share anything over $ 192 closing is profit. Risk: QCOM closes below $ 192. Events: Nov 3rd earnings report, Y2K concern, Oct phobia, January effect, money flowing back into the market after realizing that the impact of Y2K is minimal, election year. 2. 97% return in 15 months: a. buy 100 shares of QCOM at 190 (or multiple thereof) b. sell ZNOAR Jan01/190 LEAPS covered call at 53 c. sell ZNOMR Jan01/190 LEAPS naked put at 40 collect $ 93, hence your net outflow for QCOM is $ 97/share. On Jan01 expiration: If QCOM closes above 190, $ 93 profit on $ 97 investment or 96% in 15 months. If QCOM closes below 190: own 200 shares with average cost of (190+97)/2 = 143 1/2 per share. So if QCOM is higher than 143 1/2 you make money. Note: some may think that 96% return in 15 months is too low ... VBG Good Luck trading Paul