Question
You place a good-'til-canceled limit order to sell 1000 shares of Viva at $17 a share. When your order reaches the trading floor, Viva is
You place a good-'til-canceled limit order to sell 1000 shares of Viva at $17 a share. When your order reaches the trading floor, Viva is trading at $18.20. Which of the following statements is true concerning your order?
a. The trade will not be executed and will be immediately cancelled.
b. The order will be recorded in the order book and executed as soon as the price hits $17.00.
c.The brokerage firm will sell the 1000 shares at $18.20 and keep the additional $1.20 as a commission.
d.The order will be executed at $18.20 with the proceeds credited to your account.
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