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Problem 5-3 Order Books (LO2, CFA1) You find the following order book on a particular stock
Problem 5-3 Order Books (LO2, CFA1) You find the following order book on a particular stock. The last trade on the stock was at $70.54. Buy Orders Shares Price 250 $ 70.53 100 70.52 900 70.51 75 70.49 Sell Orders Shares Price 100 $ 70.56 600 70.57 1,000 70.59 700 70.60 900 70.61 a. If you place a market buy order for 100 shares, at what price will it be filled? (Round your answer to 2 decimal places.) Share price b. If you place a market sell order for 200 shares, at what price will it be filled? (Round your answer to 2 decimal places.) Share price
Expert Solution
Since we put a market buy order for 100 shares and there is a seller with the Sell order for $70.56 already in the market. The order will get fulfilled at $70.56
Buy Order- $70.56
Since we put the market sell order for 200 shares at market price and he buyer is there in the market at price $70.53 already. The order will get fulfilled at $70.53
Sell Order - $70.53
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