Question: The market opens at 9 : 3 0 AM , at which point 1 5 , 0 0 0 shares of ABC stock trade at
The market opens at : AM at which point shares of ABC stock trade at $ a share.
You decide to trade to buy shares of ABC at : AM The best bid and ask prices at this time are $ and $ respectively.
Another traders order executes at : AM at a price of $ for shares. The best bid and ask prices at this time are $ and $ respectively.
At : AM shares of your order gets executed at a price of $ The best bid and ask prices at this time are $ and $ respectively.
Another traders order for shares is executed at : PM at a price of $
At : PM another shares of yours are executed at $ The best bid and ask prices at this time are $ and $ respectively.
Finally the market closes at PM when the best bid and ask prices are $ and $ respectively.
Assume that there are no other transactions in ABC stock during the day.
Calculate the closing price of the day benchmark?
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