Problem:
You find the following order book on a particular stock. The last trade pn the stock was at $70.54
BUY ORDERS SELL ORDERS
Shares Price Shares Price
250 $70.53 100 $70.56
100 $70.52 400 $70.57
900 $70.51 1000 $70.59
75 $70.49 700 $70.60
900 $70.61
If you place a market buy order for 100 shares at what price will it be filled?
If you place a market sell order for 100 shares at what price will it be filled?
Suppose you place a market order to buy 400 shares. At what price will it be filled?