which type of order?

Since the game of options based on volatility and volatility can be dramically different at small price changes. I would guess most serious traders use limit orders.

:)
 
Last year we traded over 18,000,000 contracts in 320,000 trades .... all of them were limit orders. I hope it answers your question. :)
 
Maestro,

If you don't mind me asking, where do you put limits? I.e. at the bid for buy/ask for sell, mid-point....?
 
I cannot remember the last time I every put in a market order. I alwsays do limit orders and where I place it depends on the market.

For SPX and OEX/XEO I usually start right in the middle and shave $0.5 to $0.10 as needed or more in some cases. For spreads of $0.05/$0.10 I usually go right at the appropriate bid or ask but will occasionally try and sell at the ask and buy at the bid
.

Phil
 
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