A stock is currently trading 50$. You want to buy it cheaper, placing a limit buy 47. Also, expecting that by year end the stock will rise to 70$ and then decline, you place a limit sell 70$.You were right about the direction of the stock price, it went directly to 75$. What is your current position?
A stock is currently trading 50$. You want to buy it cheaper, placing a limit buy 47. Also, expecting that by year end the stock will rise to 70$ and then decline, you place a limit sell 70$.You were right about the direction of the stock price, it went directly to 75$. What is your current position?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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A stock is currently trading 50$. You want to buy it cheaper, placing a limit buy 47. Also, expecting that by year end the stock will rise to 70$ and then decline, you place a limit sell 70$.You were right about the direction of the stock price, it went directly to 75$.
What is your current position?
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