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To: IceShark who wrote (21156)	9/23/2000 7:51:48 PM
From: LLCF	Respond to of 436258

<Those damn options MM crooks will sit on your order just long enough to make sure that happens. -s- > They have very sophosticated machines for pricing... when the market turns ugly the scene is like a bad submarine movie with specialist crying "lean 'em down hard boyz!" the pricing machines will price options on the last, bid, offer, etc. [and 'lean' the machine one way or the other depending on order flow] instantly depending apon the situation. They can also price options of the big index type stocks based on the futures... when they go to a discount the call bids drop and puts go up. When a stock looks bad cries of "get those puts on the moon" are often heard in the pits, and believe me, they go to the moon. The liquidity myth [oh, I'll get short when it gets ugly] is more true in options than stocks... in both cases spreads blow up and bids for longs dissappear, it's no different than the rest of the economy, everything is great till it's not! DAK