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The Brink's Company Message Board

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  • JM_Options JM_Options May 12, 1998 8:27 AM Flag

    PZB Takeover

    What is an order with a 45 stop 50 limit. I have
    traded in the markets for years, and I understand stop
    orders, but with the stock at 40 1/2, a 45 stop with a 50
    limit would be an order to buy the stock only if it
    gets to 45, and at that time (when the stock trades at
    45), your order is an order to buy it at 50 or better.
    What am I missing? If you are a seller with a 45 stop,
    you can't place that order with the stock at 40 1/2,
    since the stop order is above the market, and
    therefore, the order would not make any sense. Perhaps you
    don't mean a stop order. Please let me know. Also, it
    would seem to me that a covered write on PZB would be a
    great strategy, especially now with the takeover talk,
    and the increased implied volatilities in the options
    due to this talk. Thanks.

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