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To: DepyDog who wrote (11348)	4/6/2000 11:36:00 AM
From: Didi	Respond to of 35685

Hi Dep, Though a newbie, mind my 2 cents? Per your CC example, "sell to open". If and when you close this transaction later, "buy to close". I only used "limit order" for options. A brilliant pro, who initially taught me derivatives, discouraged "market order". Otherwise, being ripped off ;-(. Good luck, Dep. di

To: DepyDog who wrote (11348)	4/6/2000 1:02:00 PM
From: Dealer	Read Replies (1) \| Respond to of 35685

Depydog our precious porch puppy! Just realize, when you call your broker, if you do or do not have a position in this call or option. BUY OR SELL TO OPEN If you do not have a position then you want to Buy or Sell to "open". BUY OR SELL TO CLOSE If you already have a position and you are trying to buy or sell that same position then you would be buy or selling to close. You have then closed the position and can move on to something else. Hope this helps. Sure will save us some money in "doggie chews" round here on the porch. love ya, dealer

To: DepyDog who wrote (11348)	4/6/2000 1:23:00 PM
From: freeus	Respond to of 35685

Ah the world of options. If you are about to buy a call for, say 100 shares of Qcom, you are opening the position. Look and see what the bid and ask are. If you want to be cute put in a limit in between. If you really want the call badly (and I can't imagine, in this nutty market climate why you'd want anything badly) put in to buy at the ask. If you are about to sell a covered call to protect yourself on your 100 shares of Qcom, you are opening a position to sell the call: Look and see what the bid and ask are. Again, if you want to be cute, put in a limit in between. If you really want to sell the cov call badly (that I can imagine in this market) you sell at the bid. Don't put in market orders on options unless the stock is rocketing up and you already have made a great profit. If you already have your call and you have your profit and want to sell it you are closing your position. Reverse the above. If you already have sold covered calls and the stock has gone down and you want to buy the calls back and make sure you keep your stock when it goes back up, you are closing your position. Happy trading! I'm a seller of stock today. I want cash now. I do not trust this up or this market. Freeus