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Some questions about the mechanics of GTC orders:
I have a position in AOL Jan 2000 puts <G> and am using a GTC limit
order as an exit.
Since many LEAPS don't trade very actively (average daily vol < 10), I'm
wondering how brokers approach these types of orders.
How often do they put your order out there every day?
How close does your exit have to be to the last trade before they'll go
fishing on your behalf?
To what extent is their diligence influenced by fast markets (such as
this morning)?
Will they pay more attention to the order if you're trading big size, or
are a frequent trader?
Do brokers ever need friendly reminders?
Any guidance gratefully received.
Thanks,
Cab Vinton
cvinton@xxxxxxxxxxxxxx
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