Selling Stock with a Limit Order You would like to sell 100 shares of Pfizer,Inc.(PFE).The current bid and ask quotes are $27.22 and $27.25,respectively.You place a limit sell-order at $27.24.If the trade executes,how much money do you receive from the buyer?
A)$2,722.00
B)$2,724.00
C)$2,725.00
D)$5,446.00

Question

Quizplus · Accepted Answer

The limit sell-order at $27.24 is higher than the current bid of $27.22 but lower than the current ask of $27.25. This means your order can only be executed if a buyer is willing to buy at your specified price. Therefore, if the trade executes, you will receive $2,724.00 (100 shares x $27.24 per share).

Selling Stock with a Limit Order You Would Like to Sell