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

To: mtnlady who wrote (9392)2/2/2001 9:27:59 PM
From: dli  Respond to of 10876
 
You may want to consider getting a broker that gives you access to all five options exchanges and provides you with the option to route your order manually to wherever you want. A good options broker should also be willing to call the exchange/MM for you if you have a problem with the way your order was handled.

Unfortunately, backing away by option MMs happens quite a bit and unlike on Nasdaq trying to seek recourse is usually a rather fruitless undertaking due to the lack of regulation. However, in my experience when an MM backs away he'll change his quote no later than a few seconds after I've submitted my order. When an order does not execute instantaneously it's because the MM has chosen to turn off autoex. Manual executions rarely ever take more than 20 - 30 seconds for me.

Dave



To: mtnlady who wrote (9392)2/3/2001 10:00:01 AM
From: Poet  Read Replies (2) | Respond to of 10876
 
Hi mtn lady and RX,

Yes, I've had the same problems you're describing when trying to buy LEAPs with a limit order at the ask. I find that sometimes it works to place a LO 1/8 above the ask. I get executed quickly, often at the ask.


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