hard · Market Microstructure
A trader places a stop-loss sell order at 72.00 for a position currently trading at 75.00. Overnight, the company releases a catastrophic earnings report. The stock opens the next day at 68.50 and trades down to 65.00.
At what price does a 'stop market' order execute?
- The order remains unexecuted
- $65.00
- $68.50
- $72.00
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