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Strategies & Market Trends : Option Spreads, Credit my Debit -- Ignore unavailable to you. Want to Upgrade?

To: Steve_GTS who wrote (1822)	12/2/2000 10:43:08 AM
From: OX	Read Replies (2) \| Respond to of 2317

those put quotes look incorrect. except it looks like there were 2 fills yesterday in each put series at 10 contracts each. also, the B/A has not changed much for over a week despite underlying price (and time decay) moves. OTOH, the calls look more normal. if u can get fills, you've locked in a free $3 how did you happen to find this?? did you use a screen or just happen to follow the stock?

To: Steve_GTS who wrote (1822)	12/2/2000 5:31:40 PM
From: KFE	Read Replies (1) \| Respond to of 2317

Steve, Simultaneously write a BULL PUT SPREAD on GELX (55/50) for a $4.25 credit and write a BEAR CALL SPREAD on GELX (50/55) for a $3.6875 credit. Is this too good to be true? Absolutely. There is not even a remote chance that you could get the prices quoted. Most of the quotes in the option chain appear stale. This is a box spread which is a position market makers trade frequently. If the trade could be done for even a fraction of a dollar credit over $5 they would be all over it. If you were to place an order for a box or butterfly at a credit or even at no debit when it hit the floor they would either laugh at it or be pissed off that someone insulted them and either way the order would not even get consideration. Market makers are not in business to let the public execute free trades. If it seems too good to be true... Regards, Ken