At-Or-Better is a type of limit order usually revolving around a volatile stock.
A buyer on a Friday afternoon, after the company has announced strange earnings, might put in an order to purchase 1,000 shares on Monday at-or-better $1.20 a share. The stock closed on Friday at $21.20, down that day from $25.50 a share. If more bad news comes out over the weekend, then it is likely that stock would trade meaningfully below $20 a share on Monday. The buyer then wants to capture the incremental discount below $20 a share when they're buying it at, say, $19.28, which is 72 cents better than the picture of Andrew Jackson.
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Finance: What is Good 'Til Canceled (GTC...2 Views
Finance a la shmoop what is good til' cancelled or GTC? well it's a way in
which securities buy and sell orders are placed like i'll buy 10,000 shares of
coke at $42 a share and this order is GTC ie it's good or effective or living [Man holding stocks of coca cola]
until I tell you otherwise or cancel it got it could this order sit on the books
of a brokerage at Goldman or Morgan or Fidelity or another broker for 8 months
before executing sure sure it could if it isn't cancelled then it's effective
and it sits around waiting for that shoulder tap to finally get on the stock [Person taps on a mans shoulder]
conveyor belt and get on getting on being sold and that's it good til'
cancel just think Futurama it was good real good until it was cancelled and now [Man watching futurama]
it exists only in the pasturama...
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