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I show BP8Z ticks: opened at 16600 (7:21c), then ticked down to 16570 (8:05c),
16550 (10:36c), 16570 (14:14c), 16570 (14:25). If you used a limit order of
16580, I would expect fill at 16600 or a tick at 16580 to pickup your bid before
price dropped to 16570. If you used a stop order of 16580, I would expect fill
the fill you got. If you did use a limit order, I would insist on fill at your
limit. I would not want to trade the Dec contract with stops due to very low
liquidity - especially with nervous currency market following a dollar
intervention.
Earl
-----Original Message-----
From: Alberto Torchio <atorchio@xxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Friday, June 19, 1998 1:41 AM
Subject: FUT: BP Execution!
>Dear Listmembers,
>
>This morning as the market was still closed (day session) I placed the
following order:
>sell 1 dec BP @ 16580 limit.
>After a long waiting, 1 hour later, I got the following execution report: sold
1 dec BP
>@ 16570!
>Now, the contract opened at 16600, so I expected my fill at that price; I might
even be
>ready to accept a 16580, as in my order, but with 16570 I am really feeling
frustrated.
>Might the lower liquidity of the december contract justify this price? Is it
normal to
>have execution reported so late?
>
>Alberto Torchio
> Torino, Italy
>
>
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