Question Details

(Solution Download) Consider the following limit order book for a share of stock. The last trade in the stock occurred a


 

 

 

 

 

 

 

Consider the following limit order book for a share of stock.

 

The last trade in the stock occurred at a price of $105.

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Limit Buy Orders

 

 

Limit Sell Orders

 

 

 

PriceSharesPriceShares
$104.75

 

   

400$105.25

 

   

150
104.50

 

   

700106.50

 

   

150
104.25

 

   

400109.75

 

   

300
104.00

 

   

200113.25

 

   

150
103.50

 

   

500

 


 

 

 

 

 

 

 

 

a.

 

If a market buy order for 150 shares comes in, at what price

 

will it be filled? (Round your answer to 2 decimal

 

places.)

 

 


 

 

 

 

 

 

 

 

  Best price$

 


 

 

 

 

 

 

 

 

b.At what price would the next

 

market buy order be filled? (Round your answer to 2 decimal

 

places.)

 


 

 

 

 

 

 

 

 

  Next best price$

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

c.If you were a security dealer,

 

would you want to increase or decrease your inventory of this

 

stock?

  

 

 

 

 

 

 

 

 

 

 

 

 

Increase
Decrease

 

 


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