Chapter 04 · Section 4.1
Market Orders
Which of the following are market orders?
a) Buy 3 Calls CBOE S&P 100 Index March 225 at 2 1/4 or better
b) Buy 3 Calls CBOE S&P 100 Index March 225
c) b and c
d) Buy 3 Calls CBOE S&P 100 Index March 225 market1
When you issue a market order you buy or sell at the market, i.e. at the market price existing at the moment when the order reaches the floor.