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Crude Oil - April 08 Contract - CLJ08

Airelon said: "I swear to god, I want to start a petition to the exchange to take the option pits electronic. Get rid of the last of that completely antiquated system. Let's take the entire thing electronic. While the pit traders are all exiting the trading floor on their last day? Let's all be allowed to stand and spit on them on the way out. I'm absolutely furious. I saw the ask at .12 this morning on a Call option I had eyed up. Sounds good, I'll take that. FOR THREE HOURS the bid ask is showing an ask of .12. Plenty of volume. [I]THREE HOURS - the bid ask is still showing an ask of .12[/I]. My order? Not filled though it went in IMMEDIATELY when I saw the ask of .12 I call up - and sure enough, naturally - the bid ask changed hours ago. But are they going to update it? Of course not. Why not just lead us along by the nose? [B][I]THE REST OF THE UNIVERSE HAS GONE ELECTRONIC! WHY ARE WE STILL DEALING WITH THESE NUMNUTS! [/I][/B]"

Airelon said: "Ran across this bit of nice news: [i]NYBOT has a long-term lease on the trading floor it shares with Nymex in New York that runs into 2013. ICE said open-outcry trading of options on futures continues, but the company plans to provide a timeline for the introduction of electronic options trading in early 2008. "We believe it is in the best interest of our customers and the competitiveness of the exchange on a global scale to centralize liquidity in an electronic marketplace," said Tom Farley, president and chief operating officer, in a statement.[/i]"