Buy at bid

[Option Trader]

To Riskarb and Wilburbear:
Thank you. I benefited from your postings.

To riskarb:
Just for the record: There are institions that ride the backs of the MM's (and they get their bids in first). It would seem to me that technology would not cost millions. Agreed?

To Wilburbear:
To the best of my understanding, the software can be programmed to fit the criterion you mention, i.e. your order would automatically be re-entered to the right exchange w/o human intervention.

 

[riskarb]

Quote from Option Trader:

To Riskarb and Wilburbear:
Thank you. I benefited from your postings.

To riskarb:
Just for the record: There are intuitions that ride the backs of the MM's (and they get their bids in first). It would seem to me that technology would not cost millions. Agreed?

Your statement is contradictory. Regardless, it can't be done in a retail account and autoquoters are readily available. It's short-sighted to spend the considerable funds to write the application and data interface when you can lease a system.

 

[wilburbear]

Quote from Option Trader:

To Riskarb and Wilburbear:
Thank you. I benefited from your postings.

To riskarb:
Just for the record: There are institions that ride the backs of the MM's (and they get their bids in first). It would seem to me that technology would not cost millions. Agreed?

To Wilburbear:
To the best of my understanding, the software can be programmed to fit the criterion you mention, i.e. your order would automatically be re-entered to the right exchange w/o human intervention.

It's hard to get around the ISE possibly suing you for repeatedly bidding and offering in the same option.

 

[Option Trader]

Quote from riskarb:
Your statement is contradictory. Regardless, it can't be done in a retail account and autoquoters are readily available. It's short-sighted to spend the considerable funds to write the application and data interface when you can lease a system.

What I meant about benefiting from your post & from WIlburbear's: even if it's not millions to piggy-back MM's, I induced from your comments it would minimally mean real good $, presumably a good chunk of the programming costs to not have problems with the exchanges yet to still have quality software; hence I have moderated the plan.

 

[wilburbear]

Some exchanges have remote streaming option market-makers. This might be what your after.