AMEX crime family makes another score

Discussion in 'Options' started by wilburbear, Nov 16, 2005.

  1. Over 2 hours to decide my contested options trade this morning. I was ruled against. AMEX options specialist held my Immediate or Cancel order for over 3 and half minutes - and through a system problem which removed this order from my "Active Orders" display. Then the fill popped up out of nowhere. Their system problem - my liability.
  2. Ah yes, I`m very familiar. Last summer(I think) I was trading TASR options and my SMART order got routed to the AMEX. An hour later after I had flipped out for a few points the AMEX busted all option trades in TASR.

    The first F`d up part is I covered so instead of being flat and in the green nicely I was short and in the red horribly...the second F`d up part is the AMEX was the only exchange to halt trading in said options. Never gave a reason besides "system problems". My speculation is that some huge MM firm fat fingered multiple orders and was gonna be put out of biz in a matter of seconds so they just did what criminals do...they lied.

    I have not traded one single contract on the AMEX since then.
  3. I think you can specify in SMART routing to avoid specific exchanges.....I'd suggest avoiding AMEX given what you've posted....

  4. =================
    They may fix the problem next year with the newly annointed CEO;
    in the meantime SMART routing will exclude them when you want/configure it,
    and therefore live its name.:cool: :
  5. Choad


    I've only been trading options for 7 years, but right from the first I heard "Watch out for those AMEX guys".

    And the few times I got fills there, they never seemed very good.

    ...bastids... :mad: