Mark just placed a stop limit order to sell 100 shares at $21 stop, $18 limit. W

Question

Mark just placed a stop limit order to sell 100 shares at $21 stop, $18 limit. Which one of the following statements is correct concerning this order if the current market price is $16

A. As soon as the price rises to $18, the stock will be sold

B. The stock will sell for at least $18 but less than $21

C. The stock will sell for $18 a share as soon as the price hits $21

D. The order will become a limit order to sell at $21 once the market price reaches $18

E. The order will become a limit order to sell at $18 once the market price reaches $21

Explanation / Answer

Answe will be: "E"

The order will become a limit order to sell at $18 once the market price reaches $21

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