Discussion in 'Options' started by cdowis, Sep 7, 2007.

  1. cdowis


    The other day I was trying to liquidate my long one RUT sep 910 call. It was pretty worthless, but I put it out for 10 cents.

    What the heck, I thought.

    The order sat around for a couple of days, and suddenly it was gone! RUT was around 790.

    Guess someone had a sense of humor, or just got tired of having it on the board.
  2. Perhaps someone was short and wanted to cover to free up a bit of margin.
  3. plugger


    Wow, what a story! Thrilling right from the start, it kept me on the edge of my seat until the very end.

    The part where you say "and suddenly it was gone!" made my heart race. A thousand thoughts running through my head, where did it go, what could have happened, will it be all right, will we find out next week?
  4. The floor broker demanded that one of the locals take the other side of your order in exchange for some juicy 1,000-lots later. It was a "pity trade" / "sympathy fill" for you.
  5. That should have been mine - been trying to get out of a freakin fly for almost 3 weeks. (this was when I was positive of the 800 break out) - I no longer believe.
  6. cdowis,

    I'm starting to learn that anything, I mean, anything can happen in the markets.

    Every day something happens that makes you do a double-take.

    The lesson is to guard yourself against the unexpected because it happens more often than you think.

    And, yes, leave your order because you never know the risk-reward profile of someone else who might take your trade.

    (Shit, I'm sounding like Nicholas Taleb. LOL.)