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In many of the more volatile stocks it pays to look at the differences
that SOMETIMES exist between the different exchanges that trade the same
options. QUALCOMM is a classic example of where you can - during
very volatile periods and especially at the opening and near the close
-identify spread trades where the interexchange market is vastly reduced.
These opportunities won't exist for long periods of time and if your broker
doesn't allow you to route to a specific exchanges it doesn't matter.
Floor traders can't benefit because they are not allowed to use exchange
"customer systems" - upstairs people with good technology
can benefit greatly.
These opportunities WON'T exist for long periods of time as probably
half the "upstairs" world is watching the hi vol. issues for this - but
they will occur from time to time. They are also more likely to exist
in Leaps where Leaps trade as Long options are very very difficult to price
on these issues.
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