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It probably was a good fill. When the announcement was made, I will bet that the
majority of the traders just stepped aside and withdrew their offers. Some probably
stepped up and took whatever was in the book and any offers that were near the current
price. Some probably even went to the options to hedge their positions. So lag time
is the upstairs trader nemesis again. You can't assume that you were ripped because
the traders were able to act before your floor broker could even find your order in
his deck along with all the other stops he had. Just another reason to trade trade
around an option position. Then your risk is defined and there is no slippage. How
many calls could you have had for the slippage and after the buy stop was executed,
how much profit would there have been in the calls? Ira
Richard Davidson wrote:
> Yes I had a buy stop at 1298.50 that was filled @ 1314.00. I am using Best Direct.
>
> My broker said that it is "Good Fill". Yea right.
>
> Rich
>
> ----- Original Message -----
> From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
> To: <he96@xxxxxxxxxx>
> Cc: "Real Traders" <realtraders@xxxxxxxxxxx>
> Sent: Thursday, January 04, 2001 12:29 PM
> Subject: Re: [Fwd: Re:[RT] Market - OEX astro]
>
> | hans-
> | Cargill is my broker, but that is not the whole story, (I did not want to
> | belabor the group). My stop was in at 1299.25. The market rallied up to 1299
> | then reversed and went down to 1294.50. I went in to adjust my stop since if
> | it went back up to 1299.25 I would likely see slippage. Cargill's system
> | requires you cancel first, we did. Then as the 1298.75 was being entered the
> | announcement hit, (actually they put it in at 1288.75 and as I was
> | correcting them the announcement hit). Bad luck and some butter fingers on
> | their part. Still cost me 18 Handles, oh well like I said the short bond
> | calls made up for it not to mention the short stock puts (at least so far).
> |
> | There was discussion in this group about IB handling of stops. Anyone have a
> | stop in that was hit during the announcement? Was there slippage?
> | don ewers
> | ----- Original Message -----
> | From: "hans esser" <he96@xxxxxxxxxx>
> | To: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
> | Sent: Thursday, January 04, 2001 10:56 AM
> | Subject: Re: [Fwd: Re:[RT] Market - OEX astro]
> |
> |
> | >
> | > Don,
> | > who is your broker ? using TIMBER HIL?
> | >
> | > I use LIND and have NEAR zero slippage on last 20 stops or so.... but was
> | > not in the market yesterday at the time, as covered shorts with profits
> | before
> | >
> | > rgds hans
> | >
> | > > -------- Original Message --------
> | > > Subject: Re:[RT] Market - OEX astro
> | > > Date: Thu, 4 Jan 2001 08:08:46 -0600
> | > > From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
> | > > Reply-To: realtraders@xxxxxxxxxxx
> | > > To: "Real Traders" <realtraders@xxxxxxxxxxx>
> | > >
> | > > BobR,
> | > > Yes on the short stock puts (some stocks that I am locally aware of just
> | > > fell too far that day ADCT over 3 points from 18+ at the time I sold 40
> | of
> | > > the Feb 15 puts @$2.25) but I would be remiss to not say I was lightly
> | short
> | > > only one emini with a 1298.75 BE stop that got filled 18H higher.
> | Fortunately I
> | > > was also short two Feb 106 bond calls so ended up to the plus side.
> | Second time
> | > > that old coot has caught me (last was the fall of 1998).
> | > >
> | > > An excellent example on the bonds of a news reversal trade had one sold
> | the
> | > > futures as they passed back down through the price they were at prior to
> | the
> | > > announcement, and subsequent failed follow through rally. don ewers
> | > >
> | >
> | >
> | >
> |
> |
> | To unsubscribe from this group, send an email to:
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> |
> |
> |
>
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