Suri owns 100 shares in OPQ Oil Company. After looking at the firm's latest annual report, she feels good about the performance of the company, so she tells her broker to buy 100 more shares but to pay no more than $33 a share. Suri just issued a _____.

Question

Quizplus · Accepted Answer

Suri issued a limit order, which specifies the maximum price she is willing to pay for the shares. A stop-loss order would be used to sell shares if they drop below a certain price, a max-bid order is not a commonly used order type, and a market order would mean Suri is willing to pay whatever the current market price is for the shares, regardless of the cost.

Suri Owns 100 Shares in OPQ Oil Company