Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: accountclosed who wrote (42486)	1/7/1999 12:36:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

Thanks. I have a little bit more experience now, and find that even if you place a limit order right AT the offer, the offer can move away from that. After I pointed out to my broker (as we waited on-line for a confirmation) that I was the only person bidding on that contract--that I was the market--something happened that caused me to get my order filled 3/8 point LOWER than my limit, which I had raised by 1/8 because I really wanted to buy. I don't know if my broker's orders go both to the CBOE and the American or to only one. The broker conceded that someone might edge away from a bid in order to bump the price up a little. From my very limited experience it looks to me that if you find the offer attrative, the best thing is to place a limit order at offer. When I placed a market order, it got filled 3/8 above what was supposedly the ask price. Such differences are not that important for a LEAP that I am willing to hold nearly two years, but for shorter term trading they could really eat into one's profits.