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

To: steve goldman who wrote (3998)	12/21/1998 5:11:00 PM
From: bazooka	Read Replies (1) \| Respond to of 4969

anyone, today i sold 500 IBM after-hours on instinet for 176 3/8 . it came back filled at 4:12 est. (according to my broker). however, i never saw the print go off on the t&s. after questioning my broker, he told me that nyse issues don't go to the tape when traded on instinet. this sounds strange to me. where did my print go? was it filled in house with my broker acting as principal? if so, would that allow them to not have to print it since it didn't need to go to an exchange. any ideas anyone? bazooka :-)

To: steve goldman who wrote (3998)	12/21/1998 5:56:00 PM
From: bazooka	Respond to of 4969

steve, can options be traded pre/post market hours? what are the hours of the different exchanges? just wondering because i see an ibm put that i like (jan 180 at 7 1/4) but i dont think i will be able to get it tommorrow unless IBM booms again. bazooka

To: steve goldman who wrote (3998)	12/21/1998 6:47:00 PM
From: Jim Lass	Read Replies (1) \| Respond to of 4969

Thanks Steve, you confirmed what I found out when I called around today, no vendors could indicate size on options. How about when options trade on multiple exchanges, are there any vendors that can show a different bid/ask on CBOE and AMEX for example? If so, which ones? Also, when I talked with someone at the CBOE today, I asked about restrictions on the RAES system. I was told that the RAES was limited to 20 contracts and that the rules stated that a broker could not break up a customer's order to make it RAES eligible. Is there any reason why a customer couldn't break it up when giving it to a broker? In your example, instead of selling 100 @ 2 3/8, just send 5 consecutive orders of 20 @ 2 1/2 and take the 2 3/8 only if the MM can change his bid/ask fast enough.

To: steve goldman who wrote (3998)	12/21/1998 8:06:00 PM
From: bazooka	Read Replies (2) \| Respond to of 4969

anyone, i am new to options trading but have been told that there are both day and night sessions. how does this work and on which exchanges? furthermore, i was looking at the (2000 jan ibm 80 call) and i see that 1 contract traded at 6:20 EST. at $100. is this a late trade, if not, then who is active during this time. to check it out then go to quote.com and then enter the symbol LIBAY. or just go to to quote.com and hit the link for live (delayed) charts. thanks for the help. bazooka btw- on this option (priced at 100) it looks like your only paying a 3 1/2 point premium (176 1/2 <ibm's current price> - 80 <the strike price> equals 96 1/2) for 1 year in time value, seems cheap to me; please tell me if i am wrong