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I agree with you that you would probably get a much better execution (i.e., trade between the spread) if you trade the option against stock. Also noticed that the options now trade on the Philly and ISE, too making it 5 option exchanges.

In case anybody cares.

Look at the OEF.

When a DOT order was sent to the NYSE, there was always the possibility that stock could trade ahead. I was told that the NYSE DOT and SUPERDOT systems were "order delivery systems" only. In contrast, an ITS order was immediate and firm (at least that is what we were told). This was all as of...

Could be short covering.

A SSF is essentially a stock position (delta =1) and is nothing related to an option.

I think that they could bid 0 and offer at 25 cents. Anything in between would be shown.

There are no SPY options.

Then if you have a calendar spread on (long June calls for example), the time premium would be sucked out.

Just hope that if a takeover does occur, it will not be a take for cash.

Maybe it is also a good lesson never to (1) sell 5 cent lottery tickets and (2) cover short options at 4 cents whenever you get the chance.

Moolen shares hit as options closure multiplies woes Wed December 17, 2003 05:49 AM ET By Melanie Cheary and Karl Emerick Hanuska AMSTERDAM, Dec 17 (Reuters) - Shares in Dutch specialist market maker Van der Moolen (VDMN.AS: Quote, Profile, Research) fell 10 percent on Wednesday after...

Spear, Leeds scales back Amex business Wed December 31, 2003 02:34 PM ET NEW YORK, Dec 31 (Reuters) - The specialist trading arm of Goldman Sachs Group Inc. (GS.N: Quote, Profile, Research) said it sold 12 listings on the American Stock Exchange, in a bid to streamline its business, but...

Knight Amex exit highlights changes in US options Fri January 9, 2004 02:10 PM ET By Doris Frankel CHICAGO, Jan 9 (Reuters) - Another player is shuttering its options operations on the American Stock Exchange, raising the question of how many options exchanges the market can support...

AAA, they typically pay for the use of capital. If I am Fidelity and I want to sell 200,000 shares of something that trades very thinly, I can call up any broker and it the piece done with little market impact (i.e., maybe down 10 to 25 cents at the most).

For example, MO will be going ex-dividend on 12/18. With the stock at 52 ish, if you have a covered call on the December months at any strike below 50, it would be optimal to exercise the calls to take in the dividend.

NASDAQ's explanation

Try any of these seminars if they are convenient. http://www.888options.com/seminar/seminars_events.jsp

You may want to argue that options technically expire on Saturday at midnight (and not on Friday).