Mr. Donaldson is short 100 XYZ at $80 and has entered a buy stop XYZ at 82.50 GTC. The current market value for XYZ is $76. A favorable report is released, and XYZ starts to rally. Mr. Donaldson wants to cover immediately. The order ticket should be written as:

Mr. Donaldson is short 100 XYZ at $80 and has entered a buy stop XYZ at 82.50 GTC. The current market value for XYZ is $76. A favorable report is released, and XYZ starts to rally. Mr. Donaldson wants to cover immediately. The order ticket should be written as:

Mr. Donaldson is short 100 XYZ at $80 and has entered a buy stop XYZ at 82.50 GTC. The current market value for XYZ is $76. A favorable report is released, and XYZ starts to rally. Mr. Donaldson wants to cover immediately. The order ticket should be written as:


A) Sell short exempt 100 XYZ at market.

B) Buy 100 XYZ at 76 stop; cancel buy 100 at 82.50 stop GTC.

C) Buy 100 XYZ at market; cancel buy 100 at 82.50 stop GTC.

D) Sell 100 XYZ at market.



Answer: C) Buy 100 XYZ at market; cancel buy 100 at 82.50 stop GTC.


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