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

To: jjs_ynot who wrote (1833)	12/3/2000 12:02:18 PM
From: Dan Duchardt	Read Replies (2) \| Respond to of 2317

Dave, I have watched the Market Makers move the bid/ask against me when my order hits the floor with surprising regularity (probably once a day) You are not alone there. There have been days when conditions seemed to be favorable for actively trading options, and I have done 10 to 20 trades. Backing away from published quotes is about as probable as giving a fill. Orders I place between the spread usually are posted eventually, but in almost every case they are held for the full 30 seconds allowed and frequently much longer. I've had several that never did get posted. Some of this comes from the lack of automation in the options market, but I think it is a sorry state of affairs. The SEC has at least commented on these issues, directing the exchanges to clean up their act, but until the market becomes fully automated I don't expect a major improvement. Dan

To: jjs_ynot who wrote (1833)	12/3/2000 9:44:15 PM
From: KFE	Respond to of 2317

Dave, I have watched the Market Makers move the bid/ask against me when my order hits the floor with surprising regularity (probably once a day). I can watch my sells at the bid not become the ask and no trade gets executed. IMO the consent decree issued in regards to the Justice Department and the SEC investigations was severely lacking. Just making the option exchanges agree to funding more surveillance systems and enforcement personnel will not solve the problems. There may be a little help on the way early next year. Some of the new rules to be effective early next year can be found in the following links: sec.gov sec.gov Regards, Ken