Protect

(redirected from protect the plate)
Also found in: Dictionary, Thesaurus, Legal.

Protect

Assure the salesperson or trader that interest, buy or sell, will be attended to, given any change in the trading circumstances, as follows:
At a price: If the stock trades at a certain price or price range, the trader will show this market to the salesperson and thus allow participation under these favorable circumstances.
Floor protection: Representation of a client on the floor of the exchange-so that if size were to trade at his price or a better price, salesperson would participate.
Volume (OTC): If a certain amount of volume trades (that parallels the protectee's interest), trader assures salesperson of reasonable participation in the trading activity. The extent of this protection depends on liquidity, number of market makers, and other aspects of the stock.
References in periodicals archive ?
I had two strikes so I had to protect the plate, and she threw it straight down the middle," Nicholson said of her fifth homer of the year.
With two strikes in the count, the hitter must expand his hitting zone to protect the plate.
There was two strikes, so I was just trying to protect the plate.