Ask Question
29 December, 18:17

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?

+2
Answers (1)
  1. 29 December, 19:38
    0
    Jason has a gain of $1,200.

    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.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “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 ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers