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The current price of XUM stock is $35. Jason places a limit order for 100 shares at $30, GTC. The price falls to $30.05 and then rises over the course of a month to $42. Which is correct?
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The current price of XUM stock is $35. Jason places a limit order for 100 shares at $30, GTC. The price falls to $30.05 and then rises over the course of a month to $42. Which is correct?

User Andreskwan
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1 Answer

6 votes

Answer:

Jason has a gain of $1,200.

Step-by-step explanation:

since the price rised to $42 from $30.05, it rised by $42 - $30.05 = $11.95

but the limit order was placed at $30 and the price fell to $30.05.

from the limit order the price was at $0.05

the total rise price = $11.95 + $0.05 = $12

gain in price = 100×$12 = $1200

Therefore, Jason will gain $1200.

User MiloDC
by
5.2k points
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