Chapter 04 · Section 4.1

Execution

Which of the following orders are to be executed entirely or not at all?

a) Buy 100 IBM calls July 150 at 11½, all-or-none
b) Buy 100 IBM calls July 150 at 11½, immediate-or-cancel
c) Buy 100 IBM calls July 150 at 11½, fill-or-kill
d) a and b
• e) b and c
  No. "c" is correct. However, an immediate-or-cancel order can be filled in part, on the condition that it is executed immediately. The unfilled part is cancelled.
  f) a and c

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