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

To: Madpinto who wrote (1215)1/14/1999 6:18:00 PM
From: clochard  Read Replies (1) | Respond to of 2241
 
To be able to really rip off people, you need a computer. That's what I learned in the seventies from someone who is now probably an options market maker. A related question: I know of an interesting NYSE stock trading around $5 but it has no options. How can I get options trading started for a stock? I would never own a stock that I couldn't write covered calls on.




To: Madpinto who wrote (1215)1/15/1999 11:52:00 AM
From: ----------  Read Replies (2) | Respond to of 2241
 
Michael:

I have the ultimate options "hose" hanging on my wall. I put in an order to buy 5 TEF calls at the market. (yes, at the market!) After watching for 5 minutes while the stock continued to soar, I decided
to force a fill. I entered an order to cancel my buy 5 calls at the
market. Believe it or not, I got a "You are out"!

If anyone ever tells me you cannot cancel a market order, I have
written proof to the contrary.

Regards,

Doug


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