Consider the following information on the specialists limit orders, (NOTE: All limits are orders for 100 shares)
Bid | Ask |
32 | 33.5 |
31.8 | 33.65 |
31.5 | 33.80 |
Assume the specialist receives your order to buy 100 shares and matches the order to her limit book. What is the new bid/ask price after your purchase?
A) Bid 32/ Ask 33
B) Bid 31.8/ Ask 33.5
C) Bid 31.8/ Ask 33.65
D) Bid 32/ Ask 33.65
The correct answer is D) Bid 32/ Ask 33.65
The buy order gets filled at the current Ask price of 33.5. Once this order is filled the next Ask price in the book becomes the latest ask price. There will be no change in the Bid price since the order is a buy order.
Consider the following information on the specialists limit orders, (NOTE: All limits are orders for 100...
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