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Strategies & Market Trends : Selling Puts: Have Cash Will Travel -- Ignore unavailable to you. Want to Upgrade?


To: David Lind who wrote (1100)2/6/2000 3:26:00 PM
From: Dan Duchardt  Respond to of 1235
 
David,

I attended a OIC seminar a couple of months ago. The presenter was a specialist from AMEX. He said that the exchanges are all now willing to honor their quotes up to 20 contracts on just about everything. Given that IATV trades options on all the exchanges, I would think it would be reasonable to assume you will be able to close out.

FWIW, from my data service I see open interest of 20 contracts, with 20 traded on January 14 @ 1_3/16, and 20 more on January 28 @ 3/16. The quotes I see now range from 5/16 x 9/16 to 1/2 x 3/4. I would guess they will converge some Monday morning.

Dan



To: David Lind who wrote (1100)2/6/2000 6:36:00 PM
From: GROUND ZERO™  Read Replies (1) | Respond to of 1235
 
Which ship did you sail and where did you go? We do a lot of cruising.....

GZ



To: David Lind who wrote (1100)2/6/2000 9:51:00 PM
From: Tom K.  Respond to of 1235
 
...Will the market maker fill an order later if I need to buy to close the position?....

David, at a recent session with some CBOE people, we were told the the role of the MM is to take the trade, i.e., that's their job (and trading is how they make their money). They also said that CBOE will take up to 50 contracts at the bid/asked price. I don't think you'll have a problem.... I never have.

Tom