Protect

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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 ?
The splitter is used almost exclusively to induce a swinging third strike when the pitcher is ahead in the count and the batter has to protect the plate.
I think sometimes he'll just try to overanalyse situations and try to make the perfect pitch and then it's 2-0, 3-1, and a hitter doesn't have to protect the plate.