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

To: edamo who wrote (53608)	12/12/1999 10:06:00 AM
From: TShirtPrinter	Read Replies (1) \| Respond to of 152472

Edamo, I'll defer to you as our expert. I'm certainly no pro. I guess my main point was the stock was down almost 7/9 pts all day and the option price had not moved from the previous day's price. Upon further review of the daily chart the large # of contracts moved just as the stock went down for a few minutes around 2:15 then went back up quickly. My order was for a limit of 23, thinking the larger group had just moved @ 23 1/4. Maybe I should have had the order "in the system" waiting. Back to the sidelines. Thanks, Tony PS I have ordered some of the options books. My fear is I'll get to know too much and it will seriously hurt my returns <G>

To: edamo who wrote (53608)	12/12/1999 11:24:00 AM
From: Jill	Read Replies (1) \| Respond to of 152472

Ed, re: Tony's post, I'm curious about your opinion about something. First, I liked your description of this market a few days ago--no bull, no bear, just extremely volatile with an upward bias, allowing rich premiums on options. Clearly the market was not like this in years/decades past. However, that may sometimes put the MM in a tough spot. What do you think? I got a PM recently from someone on SI who noted that puts he had sold a while back would not go below $2 even as the stock continued to rise. Thye just stayed at two bucks, whereas in the past they surely would have gone down beneath a dollar. At the same time, when I speak to Fidelity Spartan traders about how the options prices don't seem to move in concert with the stock as closely as they could/should, they keep saying options trade on their own especially in a fast market. Doesn't that allow a lot of room for slippery doings? Am I wrong, or is that one way MM can fight the kind of market they never expected, where individuals are making unprecedented $ on the volatility? I'm curious how things have changed over, say, the last decade. Two days in a row I put in a limit order for EMC 2001 110's. They were hovering around 16, a little over, a little under. Even though EMC dipped a bit during both days, I never got filled. It's no big deal, as I can try again, and I just felt like shaving off that quarter (it's sort of like playing a chess game) but I have to say it doesn't make sense to me. Thanx in advance Jill