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Strategies & Market Trends : Jim's Nasdaq100 Special as a basket. -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (1317)	10/12/1999 3:39:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 2103

Well I went to kill my sell order on the options and they had just taken them. Waterhouse is hard to trade options, particularly these QQQ ones are not so liquid. The web-broker quotes suck and are often not what you get if you phone in, but the phone in can waste valuable time. Just the same I phone in option trades to first set them up, I stay on the line till I get them, then as soon as they are confirmed I make a close order GTC while I have the broker handy. I can always go back and toggle my target price if I'm fast enough. Using the order status ( change order ). If I have puts and they don't stay in line I can kill the close order and buy the underlying then piss and put it to them. ------------- With most short term orders other than options I just use web-broker, but as soon as I get a conformation I then set up a target to close ( GTC ) , this is just in case it get's real busy and I can't get on, or if my computer goes down. If all goes right I can always change my order ( when I'm fast enough ) , however if not fast enough chances are I would have missed it anyway, so having a close order in the pipeline makes sense to me. I always close with limit orders anyway. Sometimes I'll buy at market if the spread is small. I did OK on my short today , but may shoud have set it wider, it being such a short term option I didn't want to push my luck in spite of the fact I both bought and sold, Web-broker is not yet showing any activity for the day..taht sucks. Jim

To: James F. Hopkins who wrote (1317)	10/12/1999 4:44:00 PM
From: OX	Read Replies (1) \| Respond to of 2103

Thanks for that further explanation of your DVI. I was making it too complicated by using the 3mo ave volume on every days calc. I find that on DITM puts, where timevalue is next to nothing, you almost always have to exercise to get all your value out. it's almost a waste of effort tho :-) Congratulations on your trade. Not to shabby for 1 day. INTC tanking here, but I'm not convinced it won't recover sometime tomorrow after the initial dust settles... really will depend on the conf call. fwiw... I use preferredtrade.com for options. Their trading app is lightening quick, immediate confirms and let you direct your option trades to specific exchanges. Not w/o their quirks of course, but much faster/better than any browser based trading. (shhhh... don't tell anyone tho, I'm afraid that their capactity to handle more traders will affect my reliability/connection times ;-)