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

To: steve goldman who wrote (2235)	1/7/1998 11:04:00 AM
From: space cadet	Read Replies (1) \| Respond to of 4969

steve, how does your firm handle option orders? Do you still hunt around for the best executions? Also, how much does your firm charge for options execution? And how do you handle option spreads? Is there a way to beat the large bid-ask cost on an option spread? I trade mostly options and find that the el-cheapo internet brokerages have lousy executions and response times on options (and they're not even cheap-to add insult to injury).

To: steve goldman who wrote (2235)	1/7/1998 12:29:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 4969

Steve, how are very large orders worked such as on the scale of 100,000 or 200,000 shares or more. I imagine this depends on the market that is used and also on the liquidity of the stock. For NASDAQ, institutions like the fundies probably go directly to a MM that specializes in large block transactions for this, right? What order of magnitude of shares can a brokerage business such as yourself able to handle in a given order? Lets take an example of a 200,000 share order with INTC and another with a more illiquid stock like SYMC or perhaps even ATML. At what point will you have to execute the order over a period of days? I cannot imagine a brokerage business able to efficiently execute the a very large order to the customer's advantage during the same day, or is this possible? For that matter, the brokerage business has other customers to attend to. Also, can you define specifically what is meant by 2nd, 3rd, and 4th markets? You did give us some idea in a recent post, but I would like a more complete picture. Is this what was meant by a person I know who was in training at a brokerage house that said customer orders are unlikely to hit the floor of the exchange? Oh, and how about today's market? I thought unlike some that we were not seeing a market rally of any duration. Everytime DJIA fails to make it above or stay above 8000 mark, it takes a big spill. Thankyou, Steve. Bob Graham

To: steve goldman who wrote (2235)	1/7/1998 4:32:00 PM
From: John J H Kim	Read Replies (2) \| Respond to of 4969

Anybody watch CNBC real early in the morning? At about 7 am, they give the daily results of the Student Stock Tournament. The winner for the last contest time period turned a paper portfolio with an initial sum of $10,000 into over $1 Million. Second palce winner came in with a portfolio of $850,000. Quite an acheivement. They did not use any margins since the rules stipulate that the portfolio always had to maintain some cash positions.

To: steve goldman who wrote (2235)	1/7/1998 5:46:00 PM
From: trouthead	Read Replies (1) \| Respond to of 4969

Hi Steve, I have tried to use the chat feature at Yamner, but each time it says the room is hushed. What up with that? Thanks, bps