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

To: Terry Maloney who wrote (1023)	5/19/1998 4:43:00 PM
From: Porter Davis	Respond to of 1598

TSE--the Valu-jet of stock exchanges And I thought Friday was bad...lessee, today when we got to work we discovered: the "V" Leaps had not been transferred over to regular-way, so we could not trade or quote them all day; the V positions had not been transferred over into our on-line deltas so we had no accurate delta information; we were told 'on pain of death' not to touch the Z (2001) Leaps, so we could not call markets on them all day; and there is no guarantee that any of this will be fixed by tomorrow. Now, this must be the fifth or sixth year we've converted Leaps into regular-way, so I can't understand why they couldn't do it this year. If there weren't so much real money involved, it would be comical. Despite repeated requests, not one management type deigned to toodle over from 'the tower' to listen to our concerns or answer our questions. We're getting serviced, all right, but not in any good sense of the word. Toronto stocks played catch-up on the down-side with New York after being closed yesterday, so even when the Dow was up 60 today, our stocks were still down. One comment on Inco...retail is starting to sell puts naked with fervour, so even as low as it is, my contrary indicator tells me it's still going lower. For the life of me I can't understand why people sell 'cheap' puts in any market, much less one that has as much danger as this one. Oh well, everyone picks their own poison. Happy trading. Porter (Heads should roll at the TSE, and they would if this were private sector, but it's the TSE so nothing will happen.)