At 10:45 a.m., Ashley placed a stop-loss order to sell 200 shares of Alpha stock at $43 a share. At 2:15 p.m., the price of Alpha fell to $42.90 and then rose to $43.40 a share by the end of the trading day
Ashley order was executed that day. Ashley would have received a price
A) of $42.90 a share for her stock since her order was already recorded in the specialist's book.
B) of $43.40 a share for her stock since that was the closing price on the day of execution.
C) between $42.90 and $43.40 a share depending upon when her trade executed.
D) equal to the average prices paid by the specialist during that trading day.
Answer: C
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