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Gregg Thurman
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Is there anything wrong with putting in a market order for an options trade for Monday? I know it’s not normally advisable because options are thinly traded, but will it not just fill with something close to the opening price? I would think it’s safe to say options will be fairly heavily traded on Monday. Want to get an order in but I may not be able to when the market opens. What is the worst risk I’m taking?
You are taking a HUGE risk with Market Orders.
Example:
If you are buying and the contract you want is B: 2.75 A: 3.25, you are going to pay $3.25, provided there are enough sellers at $3.25 available at the time your order hits the top of the queue.It’s quite possible that after the $3.25 Sell orders have been cleared out, the next sell order is $3.50. If your order was too far down the queue you could end up paying $3.50, or higher, for your contracts. Most brokers will not allow a Buy Market Order unless you have some very large cash reserves IN YOUR ACCOUNT.
On a day like we expect tomorrow, our contract may jump $1.00 in the first minute or so. I’m expecting my Week4 $660/$665 BCS to jump from $2.55 to $3.60 at the Open. Who knows how much further it could go as volatility jumps with anticipation of further gains.
[ Edited: 27 August 2012 01:31 AM by Gregg Thurman ]Signature
You can’t do more, make more, be more, than the next guy, if you think like the next guy. Think different.
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Gregg, I believe the lawyers would say “asked and answered”. He’s gotten his share of responses, don’t worry about it.
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The Summer of AAPL is here. Enjoy it (responsibly) while it lasts.
AFB Night Owl Team™
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Gregg, I believe the lawyers would say “asked and answered”. He’s gotten his share of responses, don’t worry about it.
Yeah… I’m still on the fence. So many indefinite answers :D
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Long AAPL Short ME 5’3
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cambrose - Off topic. And, I’m not judging, or trying to offend. It’s just well, one would say kinda, “in your face”. So I’ll bite, what’s up with the avatar?
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cambrose - Off topic. And, I’m not judging, or trying to offend. It’s just well, one would say kinda, “in your face”. So I’ll bite, what’s up with the avatar?
A number of the message board groups I’m in revolve around community and always suggest using real photos for avatars. Just following suit here. I don’t know if anonymity is suggested here, but I’m just used to showing my face… even though this pic is from Movember… and not entirely representative. Needs an update.
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Long AAPL Short ME 5’3
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cambrose - Off topic. And, I’m not judging, or trying to offend. It’s just well, one would say kinda, “in your face”. So I’ll bite, what’s up with the avatar?
A number of the message board groups I’m in revolve around community and always suggest using real photos for avatars. Just following suit here. I don’t know if anonymity is suggested here, but I’m just used to showing my face… even though this pic is from Movember… and not entirely representative. Needs an update.
To each his own. I just didn’t recognize it as anyone I have seen before and wasn’t sure if it was you, or if it was someone I should know.
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cambrose - Off topic. And, I’m not judging, or trying to offend. It’s just well, one would say kinda, “in your face”. So I’ll bite, what’s up with the avatar?
A number of the message board groups I’m in revolve around community and always suggest using real photos for avatars. Just following suit here. I don’t know if anonymity is suggested here, but I’m just used to showing my face… even though this pic is from Movember… and not entirely representative. Needs an update.
Yeah, lose the face, and pick some Apple-related avatar, unless you are the lovely Lovemyipad, that is.
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We filed for over 200 patents for all the inventions in iPhone and we intend to protect them. — Steve Jobs, 2007
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You must be one of those younger whippersnappers, cambrose. In my day we were more skeptical of the Intarwebs, and less trusting (which is kind of redundant).
Apple-related is always good.
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The Summer of AAPL is here. Enjoy it (responsibly) while it lasts.
AFB Night Owl Team™
Thanks, Steve. -
Samsung closes today down 7%. Apple up 2.4% in PM.
