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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (41804)	1/1/1999 1:40:00 PM
From: accountclosed	Read Replies (1) \| Respond to of 132070

MB, I responded to this before I saw your note. I was told what I said in this post Message 7062915 Perhaps it applies to liquid options near to the money? or to certain expirations. But it was clearly a rule on phlx that they had to honor up to 10 without moving the price. A local rule within certain parameters?

To: Knighty Tin who wrote (41804)	1/1/1999 4:27:00 PM
From: Tommaso	Respond to of 132070

I guess that's why it worked OK when I bought the one quite expensive put on AMZN. it moved down as I had the broker on the phone and I just said, "take it." I guess for really cheap puts one could include an all-or-none and set the limit right at the ask or maybe even a sixteenth above to encourage an execution. Or would it be better to trust the broker's market maker to haggle a decent execution with a market order? With the thinly-traded LEAPS trading at around 2, how much risk would there be of running the price up with a market order? Also, as there is with stocks, can the broker see how many contracts are offered at the ask? Sorry to keep picking your brains, but these are the sorts of things that books don't tell you--and sometimes not even brokers know them.