For three days we have been trying to buy dec. call option on silver at $7.50 strike price and not been able to. Today. noone trade or bought at all---whats up!!!

Gekko,Andy,Dick Moody? anybody!!

Crazy Stuff going on---no rhyme or reason!

-- D.B. (dciinc@aol.com), October 06, 1999

Answers

Two words: disorderly market...

JJ

-- Jeremiah Jetson (laterthan@uthink.y2k), October 06, 1999.

D.B.

JJ may well be right. Disorderly market, though I suspect it was fairly calm on Wed. Personally, I think you've been done a favor myself. As I've stated elsewhere, options are for the pro's not the average little guy. If you're a newbie to trading, just beware, be very wary and do your homework thoroughly, first and know fully what you're getting into.

IF you are bound and determined to get into the option, I'd shop for a different broker. Make sure its a reputable broker and its best to get to know them before doing business, that way you can size them up for integrity and actual ability to deliver with genuine speedy service. Remember, you get what you pay for. Pay little commission and you're more likely to get slower service. Pay a higher commission you definitely deserve and should get the speedier service (but not always and some firms charge more but deliver even less than the discounters so investigate first). Just make sure you get a broker who is honest dependable, accurate and speedy with service on order executions. That is a central key to good trading, good, competent, honest and speedy service brokers.

If I still had some floor trader contacts I'd ask around for you but most of the fellows I still know are also retired and out of the loop. So, I can only hazard a guess from past experiences and mind you I've never been an options trader and refused to get involved with that segment of the biz as a matter of personal integrity.

For all others who've questioned my words of caution regarding options trading: IF this poster is not trolling, then here's a case that does fit the general pattern of options I've previously talked about. Though usually I would have thought there would be a good chance for a "fill" on Wednesday for an entry order.

-- Dick Moody (dickmoody@yahoo.com), October 07, 1999.

Hey Dick Moody-- Your postings are always informative and understandable, and i for one truly appreciate you.-Thanks!!

-- dory (crtwheel@eburg.com), October 07, 1999.