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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: jim kelley who wrote (72538)	10/16/1998 2:30:00 PM
From: Geoff Nunn	Read Replies (3) \| Respond to of 176387

To Jim Kelley and All: Made my first attempt to trade options today, and was disappointed in what I found. Generally speaking the bid/offer spreads on stock options seem to be quite large, even when they are actively traded like Dell's. For example, early this morning the Dell Jan 2000 leap calls were quoted at one point as 11 3/4 by 12 1/2. Although the price subsequently varied rather frequently, responding to changes in the price of the stock, the spread usually held at 3/4. It is discouraging that the spreads are so large, often running 6-10% of the price of the option. I tried repeatedly to get a fill using intra-spread limit orders but to no avail. It would seem that these markets work like the old NASDAQ market, where you were at the mercy of the market maker(s). If you wanted to sell you received the bid, and if you bought you paid the offer. That was that. There was no opportunity to use intra-spread limit orders so as to improve on the price. Am I correct?