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Strategies & Market Trends : Option Spreads, Credit my Debit -- Ignore unavailable to you. Want to Upgrade?

To: jjs_ynot who wrote (496)	2/13/1999 8:19:00 AM
From: dealmakr	Read Replies (1) \| Respond to of 2317

dave, I agree that liquidity is one of the best measures for entering an options position. Tried to open a LEAPS position yesterday on an oil driller and bid a tick below the ask. Thats after I had put the order in at the ask and they moved it on me. Cancelled order after 2 hours and no fill and just as well since stock continued down. Will have a better opportunity next week at a cheaper price I think. You got to love the OEX for the liquidity displayed, I usualy never have any problems in getting an order filled from the boyz in Chicago. They can move the bid and ask quick when the market is moving fast, but you can get in and out. Also for spreads on the OEX if not legging in, I give my broker an order to open at a desired credit amount and let the floor traders do the work. A lot of times its for a greater credit than currently shown by the spread, just try and let the volatility work in my favor in a moving market. Dave