BOX - Boston Options Exchange

We are on the same side. To get the PIP quotes posted by OPRA would be a huge advantage for ALL of us.

 

It is late and I don't get that at all ..

 

Agree and I know we are on the same side.

I am always impressed at how and where you dig up this stuff ...

 

figures. Perhaps you should read the rules.

 

I have a GREAT Broker!! with great contacts.

 

I have read them multiple times and I don't see an edge in a PIP at the BOX against an ISE order; going to bed, finish tomorrow ...

 

I talk to that "great" broker too; just don't trade there much anymore ...

 

If I hit the offer and get price improvement... that is dandy..

It is only fair if he has the option to do the same thing...

When or what is the PIP period?

So my broker or the MM can step right in front of me and my offer at 1.55 and sell it to the 1.55 bidder at 1.54, (good for the bidder, bad for me) BUT... if I want to step down, I have to drop all the way to 1.50. I think NOT FAIR.

I have wondered why I can have a bid sitting at the bid price all day and not get hit until the offer price comes right down to my bid.


Anyway, thanks to most of you for helping me understand all this.

 

So what did I ever do to you? Why the snippy comment?

 

Tony I agree w/ you about your pt on the PIP. It is a double edge sword. It is good for the customer price taker due to the entire mkt vying to trade against you at a better price than NBBO BUT bad for the customer price maker.If you want to be a price maker as a customer, I am sure you still could have a better degree of success at the BOX vis-a-vis other exchanges where it is illegal. Keep also in mind that there are thousands of strikes and all participants can only PIP for 3 seconds. Take that PHLX... !!