Assume you purchased stock abc for $10 per share a month ago. Today at noon the stock is trading at the day's High of $10.97 per share and you set a trailing stop order to sell at $0.20 below the market, goot til cancelled. During the afternoon the stock starts trading down and closes at $10.79, the low of the day. If the stock opens at $10.72 tomorrow morning:

Question 28 options:

	your stop order is breached and you have been sold out of the position at $10.72
	your stop order is not breached; the level is now $10.52, i.e. $0.20 below the stock opening level
	your stop order is not breached; the level is now $10.59, i.e. $0.20 below the prior closing level
	your stop order is breached and you have been sold out of the position at $10.77