info that might be helpful to traders...
Option Market Makers
- Thread starter RainMaker3000
- Start date
Well said! When I trade options I try to keep my orders routed to electronic exchanges (ISE) because I've had exchange MM'rs try to rape me too many times...Heck, just last week I sent in an order to PSE that I ended up cancelling.... when, after about 10 minutes the order still hadn't been confirmed as cancelled I called IB. IB confirmed that the order was cancelled after calling down to the exchange. Twenty minutes later, an 55 minutes after my original order was sent (and cancelled) and after the market turned and went in the opposite direction, my order was executed.
I got back on the phone with IB, and after talking to the exchange again it was determined that the cancellation order number must have been mistaken.... LOL ....right....
Actually no; I got back on the phone with IB and asked them to bust the trade. It didn't make any difference since the market was pretty much back to hovering around the fill price.... However I decided to do bust it mostly out of principle.... although I seriously doubt if the exchange would have busted the trade if the market had continued in their favor.... Just my opinion...