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Strategies & Market Trends : From the Trading Desk
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To: steve goldman who wrote (4124)1/26/1999 2:27:00 PM
From: GrnArrow  Read Replies (1) of 4969
 
A few questions on stop loss orders for listed stocks:

1) If you enter a stop loss order at 50, does it become a market order as soon as the bid drops to 50, or does there have to be a print at 50?

2)Say your stop loss order is at 50, the bid is at 50 1/16, and there is a print on some secondary exchange at 49 7/8. Does the stop loss order become activated? or does the print have to occur on the nyse?

3)When a stop loss order is activated, what is its priority in relation to other market orders or marketable limit orders that arrive before and after the stop is activated?

Thanks Steve!

Grn
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