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Thomas Brun wrote:
>
> Kevin wrote:
> >
> ><snip>
> >
> > I understand your situation, you thought you were out. The only thing
> > you could have done is cancel/replace on the 28th and go to the market,
> > then claim the damage.
>
Yeah, cancel and replace is a good way to get things straight. Even if
you don't get the fill back at least you know whether your in or out.
It comes out the same I guess as the settle price was 5.40. By the end
of the day it was over.
> > However, you have not mentioned the market conditions that day. By my
> > records, October 28th was the day that Victor Niederhoffer blew out of
> > his massive short put postion in the S&P 500. Coupled with the futures
> > volatility, my guess is that the options were pretty much a fast market
> > all day.
>
No doubt about it a very busy day. But the Floor Broker said that 1
hour and 24 minutes was not enough time for him to received my order
and
put it in his deck. I find that hard to accept. Also As for Victor
Niederhoffer If he paid 23.00 to get out of his short position he could
have had mine for 16.00. Not that it would have helped him that much
but he was buying and I was selling. Everyone was buying except me.
400 contracts traded at 23.00 15 minutes after my order was entered
and
52 at 20.00 almost 90 minutes after my order was in there.
That's not an excuse, but you can overwhelm any execution
system for a short period of time.
Could be but I can't say.
Regards,
Tom
> >
> > Kevin
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