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> Jimmy,
> I HAD a bloodsucker!!!!!!!!!!!!!!!!!!!!!!!!
> It didn't do any good#%$#@
> Best,
> Marc
> ----- Original Message -----
> From: "Jimmy Snowden" <jhsnowden@xxxxxxx>
> To: "marc miller" <marcmiller@xxxxxxxxx>; <Omega-list@xxxxxxxxxx>
> Sent: Sunday, February 22, 2004 10:18 AM
> Subject: Re[2]: [OT?] Exchanges reactions to big mistakes/manipulations?
>
>
> > Marc,
> >
> > Actually that is one time you needed a bloodsucker. When you don't
> > have one then once in a while you will not get what you think you
> > deserve. It becomes a cost of doing business. You pay them or you
> > get cheaper commissions. Exercising the puts is another option but
> > having traded options in the past it is a rare day an option owner is
> > trading at a level he can actually afford to lay down the money to
> > exercise. That old greed factor gets us in too deep doesn't it?
> >
> > Best regards,
> > Jimmy Snowden
> > mailto:jhsnowden@xxxxxxx
> >
> >
> > Sunday, February 22, 2004, 12:08:48 PM, you wrote:
> >
> > mm> How about the day that I owned a boatload of OEX puts- Oct ' mini
> crash.(if
> > mm> my memory can be trusted)
> > mm> Here's one way they did it:
> > mm> At exactly 2 pm, one hour early, the CBOE just decided to close. It
> was the
> > mm> very first and only time in history
> > mm> that they did that.
> > mm> I was unable to liquidate my puts on the close, as was my plan.
> > mm> The very next day, get this:
> > mm> I wanted to sell them at the open:
> > mm> they were maybe 20 or 30 points in the money. They had been the
> CLOSEST
> > mm> strike, with the most volume:
> > mm> CBOE opened in "rotation": read: let our members cover their ass
> first:
> > mm> My option strike was opened at 9:10 am Central: I covered my puts
> then,
> > mm> about 10 points less than I could have, and, no telling what I could
> have
> > mm> got at the close: The published "closing price" was the last traded
> price
> > mm> at 2pm!!!!
> >
> > mm> ----- Original Message -----
> > mm> From: "ian.b" <ian_b@xxxxxxxxxxxxxxxxxx>
> > mm> To: "Omega-List@xxxxxxx Com" <omega-list@xxxxxxxxxx>
> > mm> Sent: Sunday, February 22, 2004 3:27 AM
> > mm> Subject: [OT?] Exchanges reactions to big mistakes/manipulations?
> >
> >
> > >> Dear List,
> > >>
> > >> Last year, there were sessions with unusual movement
> > >> caused by mistaken orders or a unusual situation (i.e. e-mini).
> > >>
> > >> Could you send me links, notifications, explanations
> > >> from an exchange or a brokerage regarding trade cancellation? .
> > >>
> > >> I would like to know the way the exchanges handle this.
> > >>
> > >> Regards
> > >> ian
> > >>
> > >>
> > >>
> >
> >
> >
> >
> >
> > Outgoing mail scanned by Norton
> >
> >
> >
>
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