Option Market Makers

Discussion in 'Options' started by RainMaker3000, Jul 12, 2002.

  1. RainMaker3000

    RainMaker3000 Guest

    info that might be helpful to traders...:D
     
  2. chisox

    chisox Guest

    option marketmakers are traders, you might be suprised to know
    some of the best traders in the world are option market makers, when you go to execute, they are trying to rape you.
     
  3. :) Well said! When I trade options I try to keep my orders routed to electronic exchanges (ISE) because I've had exchange MM'rs try to rape me too many times...

    Heck, just last week I sent in an order to PSE that I ended up cancelling.... when, after about 10 minutes the order still hadn't been confirmed as cancelled I called IB. IB confirmed that the order was cancelled after calling down to the exchange. Twenty minutes later, an 55 minutes after my original order was sent (and cancelled) and after the market turned and went in the opposite direction, my order was executed.

    I got back on the phone with IB, and after talking to the exchange again it was determined that the cancellation order number must have been mistaken.... LOL ....right....
     
  4. So you ate the fill?
     
  5. Actually no; I got back on the phone with IB and asked them to bust the trade. It didn't make any difference since the market was pretty much back to hovering around the fill price.... However I decided to do bust it mostly out of principle.... although I seriously doubt if the exchange would have busted the trade if the market had continued in their favor.... Just my opinion...