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

To: Poet who wrote (307)	12/28/1999 8:54:00 PM
From: steve mamus	Respond to of 8096

The fact is that unless you place your orders thru an ECN directly bypassing the retail middleman you in fact are getting nailed everytime you make a trade. On bid-ask spread you are likely losing 100-200 dollars per trade in a regular market on a typical 1000 share trade of QCOM if not more. I have been too lazy to set up cybertrader. I plan to do it in the AM. Last week I ordered 2 new computers from DELL including a desktop with a dual 21 and 17 inch screen to take full advantage of cybertrader capabilities. This soft ware is supposed to have options available shortly. Idea is to buy on the bid and not the ask and also get better idea of trading patterns based on level 2 bid-ask spreads and volumes (as well as ID the players). Using a retail online broker is romper room...time to move on.