On March 10, 2021 share of the software company Tangier closed at $14.23. That night, the company announced better-than-expected earnings results, and the next morning trading in the stock opened at $17.24 and then quickly rose to $21.24 before ending the day at $20.65.

Another investor who already owned 200 shares of Tangier also heard the good earnings news on the evening of March 10. The investor expected the news to lift Tangier's price the next day, so he submitted a limit order to sell 200 shares at $20.00.

choose the right answer:

a) The limit order to sell would be executed at $20.00 or higher. Because the price did rise above $20.00 on March 11th, the investor would receive a price of $20.00 or higher, or $4,000 (or more if the sell order executed above $20.00 per share).

b) The limit order to sell would be executed at $20.65 or higher. Because the price at the end of the day was $20.65 on March 11th, the investor would receive a price of $20.65 or higher, or $4,130 (or more if the sell order executed above $20.65 per share).

c) The limit order to sell would be executed at $20.00 or higher. Because the price did not rise above $20.00 on March 11th, the order to sell would not be executed.

d) The limit order to sell would be executed at $20.00 or higher. Because the price did rose to $21.24 on March 11th, the investor would receive a price of $21.24 or lower, or $4,248 (or less if the sell order executed below the price of $21.24 per share).

Question 3 options: