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Never do anything in the NY markets "at the market". You will get ripped
off worse then buying futures "at the market". I always use a limit
order. If I know the broker I might give him/her a couple of ticks
discretion. Ira.
Lalaine Espinosa wrote:
> Hi,
> I would like ask some opinion or advice about the option contract that I
> bought for $100.00 each. Last March 1, I placed an order with my broker
> (a weelknown one) to buy 10 Dec. Put crude oil 1450 at the market.Since
> it was trading at a premium of @1 or $10.00 per contract I expect to buy
> it higher than $10.00 but not more than $20.00.
> The next day my broker told me that I was filled at $100.00 per contract
> so I paid $1000.00 for 10 contracts.Is it possible for the distant
> contract to have this range? If you are a broker and you client place an
> order like this, are you going to buy this high? I'm thinking to
> liquidate these contracts, but I 'm afraid they sell them for $10.00
> again. Any opinion or advice on this matter is highly appreciated. Thank
> you.
>
> Regards,
> lalaine
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