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Non-Tech : Meet Gene, a NASDAQ Market Maker -- Ignore unavailable to you. Want to Upgrade?

To: KFE who wrote (545)	8/13/2000 11:02:14 PM
From: richard lionhearted	Read Replies (2) \| Respond to of 1426

and if a trader took home a large position over night he would be looking for a new job the next day. you are absolutly right---but you will never ever convince most people who post on threads---it is so totally absurd to think that mm's have large positions---but without the mm's people would have to blame themselves for there loses and that just doesnt seem to happen

To: KFE who wrote (545)	8/15/2000 9:11:35 PM
From: gene_the_mm	Respond to of 1426

KFE... I will make a public apology here for SOME of my unkind words about options people (options MM's and specialists and everyone else). While I still feel that too many options players have good information flows vs. being good traders (there are SOME legitimately skilled options players out there - don't get me wrong), nonetheless I have been very pleased with the executions in options I have gotten in my personal account -- surprisingly good. MM's do not generally hedge positions on individual stock inventories against the underlying options, as far as I know--I could be wrong. However, some larger MM's might hedge large positions (they may hold large positions for their investment banking interests or for possible institutional clients, etc..) by initiating positions in INDEX options. I don't know of any MM firms doing it personally but I believe it is a viable, useful tactic for firms that hold large inventories. Sorry if I insulted you... I have friends who are options MM's and I know how they make a lot of their money. Feel free to comment on this and let me know if I have overlooked something. Thanks for your post. All the best, -- Gene