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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: Steven Bowen who wrote (1913)	12/5/1997 12:29:00 PM
From: steve goldman	Read Replies (1) \| Respond to of 4969

Two things: 1. I am an options principal in here. There is TREMENDOUS compliance with options and since they are so complicated, I would rather skip any questions relating to them since I have no desire to say that I didnt fully explain them. There is a reason yu have to receive an options disclosure book and you must sign options agreements. Call me and I would be glad to go through it withyou. 2. It is difficult to make a spread in options. Most firms simply charge a reasonable, higher than their stock commissions, price for options. SO I am sure they were representing you or routed to a firm that represented you. It is too difficult ot make a market in such an illiquid stock. The price improvement came because the market took off right after the down opening. When I speak of mm's and options, I am not talking really the same thing as mm on otc stocks. Without getting to detailed, options markets are maintained by parties call "market makers' but they really are more like a listed specialist than a otc mm. So the term indicates it might be like the otc market, but it more like the specialists except that there are often various markets on which options exchance. Ie. an option might trade on the CBOE, the AMEX and the PCoast. You alsomight be getting a quote from the pcoast but your firm routes to the AMEX which has more volume and a better quote. Might be. more likely its that the firm didnot make the market on options and you simply got a better price. regards steve@yamner.com