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To: Patrick Slevin who wrote (6770)10/19/1998 3:20:00 PM
From: SE  Read Replies (1) | Respond to of 44573
 
There she goes....I hope you climbed aboard.



To: Patrick Slevin who wrote (6770)10/19/1998 3:42:00 PM
From: Tom Trader  Read Replies (2) | Respond to of 44573
 
Sheesh--and to think that I thought that I was paranoid!!

May be I am being naive, but I think that this was probably innocuous -- for one thing, I don't trade all that many contracts.

It came up when he was giving me all of the trades from options expiration--basically a number of the trades--Oct series-- that I entered had settled for cash. He told me that he traded the OEX options and had always lost money -- and that was the story with most of the other clients who used that desk and who traded the OEX -- now most of them don't write options of course. He wanted to know what it was that caused me to decide whether to short the OEX options -- puts or calls--at a particular point in time. He said that he and his buddies were trying to learn this stuff.

Actually, I don't care if others do the same thing, that I do as long as I get my trade in first. I did have another outstanding month -- and this broker seemed aware of that -- but now you've given me something else to think about.

BTW, I heard from one trader who I know personally, who was short on that day--a day trade -- and he had a stop at 34 and got filled around 58. He is a seasoned day trader--and he said it set him back to a point where he had lost about 40% of his profits for the year.