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Monday, December 31, 2007

Low Funded Challenge Account: Sugar #11 - March 08 - Part II

Ok, I went ahead and put the order in. I placed an order to buy one March 08 Sugar #11 10.00 Put at .08 Limit, Good Till Canceled.

One thing I noticed when placing the order with optionsXpress, is that when I first entered this order, it defaulted to a page that would have entered me for a February 08 10.00 Put on Sugar, so I had to manually switch it to make sure that it was a March 08 10.00 Put. Regardless, the order is in and working.

Edit: It's a really low volume day - being New Years Eve, so when the market jumped to .09 past my limit, I tried to modify the order to a market order. The bid-ask was 6 x 8, so there is more than enough in this account. But the platform wouldn't accept the order. I called optionsXpress, and spoke with a Mark (who was extremely helpful) and he's trying to get my fill for me. At the moment? It's dealing with the options pit guys. I've had more problem with Futures options pit traders who refuse to cooperate with brokers, than I can think of. Personally, I wish that they'd take everything electronic, and put the option pit traders out of business.

Just a shoutout to Mark at the traders help desk at optionsXpress. He is more than helpful in assisting me to get my fill at .08, and has been extremely helpful throughout the entire process.

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