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To: Glenn D. Rudolph who wrote (10530)7/15/1998 9:53:00 PM
From: Robert Duncan  Read Replies (3) | Respond to of 164684
 
Gleen and others:

Thanks for the post. I wish I had know about the 10 contract rule. Still, if you put a buy order in at market isn't a 1 1/2 hour delay unusual? Also, the fact that it filled at near the high end of the option during that time period? I guess my question is this: if the option buyer does not get a fill for 1 1/2 hours, what is to stop the broker from simply filling your order offically at the high end of the range during that time and then actually buying it themselves near the low end? In other words, if I can show that the option did not trade near the price it was filled at at least 1/2 hour (about an hour actually) after I clicked to buy at market does that help my case? One other thing to add to this mess - about 1 hour and ten minutes into this I clicked to cancel the order. Five minutes later I bought 450 shares of TDFX on margin. (Great earnings today for them!!) That order cleared within 30 seconds. Ten minutes after that when I called in from work the option order had been executed!!! (This is crazy because it was about 15 minutes after I had canceled the option order AND MORE IMPORTANTLY because after the TDFX buy I did not have any cash available in my account! So, right now I am sitting on 13 July AMZN puts and 450 fully margined shares of TDFX.

Thank God TDFX did not miss earnings! :) Any further advice would be appreciated.