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Yikes! I'm with the DR about using MOC orders you're going to get a fill at
"their" greatest pleasure. Whether that is better or worse than an ATM order
during the session I'm not sure but either way you're playing into "their"
hands. I've heard tales of actual jubilance as an ATM option order comes
into the pit and is sort of tossed around like a basketball would be in a
ball game. The only time I've used the order is when I'm trying to rescue
some of the value of an expiring option or in a fast market.
Brent
-----Original Message-----
From: Mervin Yeung <tinyeung@xxxxxxxx>
To: Real Traders <realtraders@xxxxxxxxxxxx>
Date: Monday, June 21, 1999 4:18 PM
Subject: OPTN: Market on Close
>Hi RTs,
>
>I am trying to use options to replace stops. I worry about the
>liquidity. I know the close is usually the most liquid of the day. I
>wonder if I use Market on Close Order to buy calls or puts right at the
>close, is it a good way?
>
>Thanks in advance!
>
>Mervin
>
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