On receipt of this order the Put and Call broker would immediately buy a Put on Chrysler to the best advantage and would wire you the price at which he bought it. You, of course, would have to have your money on deposit with the Put and Call broker before you sent the order because he will not fill ordsr3 until the money is in hand. However, you could wire the money with your telegram. You would wire him $137.50 with the above message, On the other hand, if you wanted to buy a Call on Chrysler, then your order would read as follows:
BUY A CALL 100 CHRYSLER CLOSEST OBTATAINABLE 30 DAYS
and with this massage to buy a Call, if you did not have the money on deposit with the
broker, you would wire $142,50 to pay for the Call.
If you were not in m hurry, you could send a telegram to the Put and Call broker and
ask him to quote you Puts and Calls on Chrysler, General Motors, U.S. Steel or any other
stocks, good 30 days. He would then wire the price at which he could buy, this price being
subject to change any hour or any minute. After receiving the telegram from him, if you
thought the price was Close enough to the market that you could make-money in 30 days,
you could then wire your order to buy.
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