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.

Strategies & Market Trends : Options for Newbies -(Help Me Obi-Wan-Kenobe) -- Ignore unavailable to you. Want to Upgrade?

To: clochard who wrote (1196)	1/11/1999 1:17:00 PM
From: Caroline	Read Replies (2) \| Respond to of 2241

Steve, complain away, nothing illegal here. You moved the market. Place a limit order or takes what you gets, that's why it's their spread! CB

To: clochard who wrote (1196)	1/11/1999 2:46:00 PM
From: Madpinto	Respond to of 2241

In fairness to the exchanges, I do have an idea of what may be happening. Often times, quotes are run by a computer which makes markets based on the stock price and criteria added by the traders. If the stock moves even a tick, it can cause the computer to move the markets. However, if your order comes in before the market is moved, you have a complaint. You can contact the PHLX at 1-800-THE-PHLX. Good Luck. Mike

To: clochard who wrote (1196)	1/13/1999 8:01:00 PM
From: Madpinto	Read Replies (2) \| Respond to of 2241

I can relate to you better now that I personally experienced the thievery of the Philadelphia Options Exchange. I entered an order to buy 25 puts. The order reached the floor as the stock was screaming up. The market on the puts was 1 1/16 to 1 5/16. I bought 10 at the offer of 1 5/16 and 15 at my limit of 1 1/2. Nothing is illegal about this, but I deserved a better fill. The PHLX traded through the other exchanges offer to fill me at the higher price. I tried to complain, but my firm was too busy. The PHLX investor relations had no time for me either, and told me to call my firm if I wanted help. Cheating is a great way to make a living if you can get away with it!