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Bubba entered an order to sell long 100 shares of XYZ at 38.75 stop limit. Thereafter, the following round- lot transactions occurred: 38.75, 38.65, 38.50. At what price was Bubba's order executed?
Correct Answer: D
Explanation/Reference: Explanation: it was never executed. The first transaction at 38.75 elected the order, but since it was both a stop order and a limit order, there was never another transaction at 38.75. Consequently, Bubba's order was never executed.