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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: lee kramer who wrote (92533)	4/10/2000 11:53:00 AM
From: WaveSeeker	Read Replies (1) \| Respond to of 120523

Lee, I had a similar problem with selling some AFCI calls the other day. I had less than 10 contracts and the premium was less than 10, so the RAES system should automatically execute your order electronically (the bid price for a sell and offer price for a buy). At the time, the bid was 3 1/2. I placed a limit order to sell a few at 3 1/2, and the market maker at the CBOE lowered the bid to 3 3/8. I cancelled the order and resubmitted a limit order to sell at 3 3/8. He lowered the bid again, and we continued this game until I finally gave up even trying to sell at 3 1/8. During this time, the price of the underlying was actually going UP. Finally, I contacted the CBOE Compliance department and explained the situation. I don't know what happened to this particular market maker, but rest assured that they can fix your problem. Note that on a Level II system such as RealTick you can see the various options exchanges on a Level II montage just as you would see the market makers on a Nasdaq stock. WS