Mike bought 200 shares of EG stock two years ago at $16 per share. The stock has traded in a range of $21 to $44 a share over the past year
EG is now selling for $43.60 a share. EG announces its earnings today and Mike feels the stock could go to $60 on good news or fall to $30 on bad. To protect his profits, the most appropriate order for him to place is
A) market order to sell immediately.
B) a limit sell order at $60.00.
C) a stop loss order at $42.
D) a stop-limit order to sell at $45.
Answer: C
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