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 : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: NateC who wrote (10358)	4/13/1999 7:22:00 PM
From: VincentTH	Read Replies (2) \| Respond to of 14162

Nate, You mean you don't even have the RT quote when you place your order? That's bad. IMHO, it depends on how bad I want the trade, and how liquid is the underlaying stock: For liquid stocks (e.g. CPQ) I normally just split the Bid/Ask or place my order 1/8 inside the spread if I want it bad. If I really, really want the order filled (stock is running etc...), or if the options are thinly traded, I'd place the sell order at the bid, and the buy order at the ask. The option gods forgave me, but I even placed a (gasp!) market order once at the close because COST was tanking big time, and I did not want to miss it. I don't think you are giving up too much with the limit at 1/8 inside the spread, but you are giving up to much if you don't have the real time quote when you place the order. At Waterhouse, you can look at the option quote RT, AND you do have the RT quote displayed when you place the order for confirmation. The best discount broker quote system is from Fidelity IMHO. I haven't placed an option order with Fido for about a year (having moved my account) but I believe that the RT quotes at Fidelity also give you the Exchange with the best quotes, if memory serves me right (at the price of higher account maintenance fees and higher stock commisions). //V