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

To: Porter Davis who wrote (763)	11/30/1997 9:27:00 PM
From: Dave.S	Respond to of 1598

Porter: Things are evolving as they should at the TSE. Any system that doesn't take consider the needs of the users will fail. This is one of the rules of systems development. I spent 16 years on application development projects before becoming a trader and I had my fair share of disasters. It doesn't matter how much money or resources are thrown at the new option system it will fail until the users (traders) are involved in the design and implementation. The culture and organization of the TSE are unique in my experience. I was a consultant to the TSE in 1987 and things haven't changed much. I never experienced an organization (and I worked for dozens) where the operating (trading) and administration groups have so little contact and have so little knowledge of the work done by the other. This problem is especially acute in the Options and Futures areas. There are no staff that have any experience in trading options or futures and very few of the traders have ever worked in an office environment. I am very hesitant to recommend changes to the management at the TSE since, as you know, I have suffered, as you have, at the hands of the bureaucracy in place there. Until these "two solitudes" can start communicating then we will continue to a system problem at the TSE. Dave

To: Porter Davis who wrote (763)	11/30/1997 9:58:00 PM
From: Jan Johnstone	Read Replies (1) \| Respond to of 1598

"Bravo, Bravo, Porter !!! One of your best updates yet. Maybe if things go sour trading options at the TSE, you could hit the lecture circuit. I've been watching Inco, and had the yen(oops!!) to trade it on Friday. Frankly, I don't like the option pricing and spreads, I'll watch for a couple more days. Unlike BLD which I'm doing fairly well with. No, those April 75's were not mine, I rarely write anything beyond the coming month. BTW, I would like to see a $65 strike or lower, in case the bottom falls out of Ballard. You mentioned in one of your previous posts about the increase in option volume on the TSE. I've got a hunch that the internet has been a real source of education for many, including me. I trade options far more frequently now than I did a couple years ago. In fact now, my core stock holdings MLT, BLD and recently NNC are all option eligible. I'm a real fan of covered calls. Keep up the yammering, here and with the TSE board. You've got many of us on your side. Jan