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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: ViperChick Secret Agent 006.9 who wrote (26646)	10/22/1997 8:14:00 PM
From: Brad Hill	Respond to of 58727

lisa--the Top Diagnosis thing on that site you linked me to seems to be linked to historical return percentages, so naturally JBIL ranks high. The site looks kind of interesting, but erratic. So many sites, so little time... -- Brad <g>

To: ViperChick Secret Agent 006.9 who wrote (26646)	10/22/1997 11:53:00 PM
From: Alias Shrugged	Respond to of 58727

Lisa - (Off Topic) (and long) I would like to your opinion on a "situation" I find myself in. Last friday, two of my option trades were not executed well, and I need to know how many pounds of flesh I am entitled to/and or should ask for. (I figured I would ask you, "She Who Takes No Prisoners!!"). Please bear with me while I describe. Late friday afternoon, I placed two market orders: buy 10 Varco Dec 45 calls (VRCLI) and buy 20 Varco Dec 50 calls (VRCLJ). I had just enough margin (maybe 10% more than needed if the orders were filled at the ask when submitted) and the orders were market orders submitted by computer. After 20 minutes, I checked by phone on the order status, and found out neither had executed. I called to talk to a real body, and found out that the first order (10 VRCLI) had just executed, but at 7-1/8 instead of the 6-1/4 ask when submitted. Then, they told me the other order was just cancelled because of lack of margin (because the first order cost a little more AND the price on the VRCLJs had risen). I immediately complained and asked for a review. Today, (yes three trading days later), they have agreed that the 7-1/8 fill on VRCLI should instead be 6-3/8 and they will review the other trade which they cancelled. I think they slowed down the submission of the the trade (as opposed to the exchange screwing around for 30 minutes on a market order for 10 contracts!!) What do they owe me on the second trade? I would argue that IF they had submitted the first trade promptly and then immediately processed the second trade, that both would have been filled for the available margin I had. So, do they owe me 20 VRCLJs for about 3-3/4, the ask when submitted. This has become a sizable issue for me; the VRCLJs are now trading around 11-1/2, an increase of 8 pts or $16,000 of profit. Thanks Mike oh, love you profile!