medium · Order Flow Analysis order-book-dom

An E-mini S&P 500 (ES) book shows 450 contracts resting at the best bid of 4510.00 and 200 contracts at the best offer of 4510.25. A trader submits a market buy order for 250 contracts.

If the next offer level is 4510.50 with 310 contracts, what is the volume-weighted average fill price (barP_fill) for the order?

  1. 4510.50
  2. 4510.375
  3. 4510.30
  4. 4510.25

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