Series 7 - General Securities Representative Exam
A customer tells their broker "Sell 500 shares of ABC, Stop 102, Day". What happens when the stock price trades at 102?
The stop order is now a good til cancel orderA
The stop order is executed at 102B
The stop order is triggered and turns into a sell limit orderC
The stop order is triggered and turns into a sell market orderD
Stop orders turn into market orders once the stop is triggered at the stop price