Buy Minus Order

Buy minus order

In the context of general equities, rare market or limit order to buy a stated amount of a stock, provided that the price to be obtained is not higher than the last sale if the last sale is a minus or zero-minus tick, and is not higher than the last sale minus the minimum fractional change in the stock if the last sale is a plus or zero-plus tick. (If limit, then the buy cannot occur above the limit, regardless of tick.)

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Buy Minus Order

An order to buy a security with very specific price requirements. The price at which the order is executed may not be higher than the security's last price if the last price was a downtick or a zero-minus tick. If the previous trade was an uptick or a zero-plus tick, the price may not be higher than the difference between the last price and its change (which is itself the difference between the current price and the close on the previous trading day).