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

To: Poet who wrote (365)	5/16/2000 4:33:00 PM
From: Mark Z	Read Replies (1) \| Respond to of 10876

Did you know that orders of ten contracts, placed to sell at the ask, are executed automatically and aren't passed through the specialists? Is this true of 'fast markets' as well? Schwab tells me they can turn off auto-ex in those conditions (although what a 'fast market' is is entirely arbitrary). You meant 'sell at the bid', right? I don't think they'll auto-ex a sell order at the ask!! BTW, does anyone know what the manning responsibilities are for small (1-5 contract) option orders? Do bids have to be displayed if the order is for a few contracts or can they not display it? If your QQQ puts were for May, I think it was good you GTFO'd. I have this nagging feeling this is going to be a de ja vu to last month where we rally into Friday and come Monday we start to tank again.

To: Poet who wrote (365)	5/17/2000 4:33:00 AM
From: VoyK	Read Replies (2) \| Respond to of 10876

Poet, I'm new to this thread and learning the ropes on options (made 120% on JDSU calls today, but lost some on QQQ puts instead). It is what you said and I am not sure I understand it" "Did you know that orders of ten contracts, placed to sell at the ask, are executed automatically and aren't passed through the specialists? " Don't you mean "at the bid"? BTW: that Option Investor seminar, is it the one by OIN (Jim Brown)? I receive the newsletter, find it excellent and I've been thinking about flying to the States to attend the seminar (I am in NZ). Would appreciate your critical opinion. Thanks