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

To: Jill who wrote (1332)	6/5/2000 8:50:00 AM
From: t2	Read Replies (1) \| Respond to of 10876

Jill, I did have problems with options for Corning. My problem was that when I put in a bid slightly lower than best ask, I would show up at the bid but the ask would move further away to allow for a normal spread between bid and ask on this stock. That is why decided to just to buy at a price slightly above the ask---and i get the ask price. When i try to pick a spot in between, that is when i get into problems. I still like to put orders no higher than 100 contracts at a time---maybe even going lower quantities at a time on some like NOKIA and GLW. Even on out of the money calls. Sometimes, i just put in one order of 100 contracts on liquid names followed by another order right away with little time lapse. On more liquid names, i even put in orders for 100 to 200 contracts at MARKET. It is better to still put in a limit price slightly higher than the ask if you want the options right away. That way a runaway stock will not result in a bad fill. JDSU options have been fine lately although i would put them in the same class as GLW, NOK. I rarely buy calls or puts on smaller names and even if i do, it is for very small orders. I think what we lack is a knowledge of the workings of the options exchanges. Therefore, I just go with what my experience has shown me. I believe that orders 10 contracts (maybe even 20)are filled automatically (computerized). Hopefully, they will link up in the future to provide more liquidity.