Answer-first summary for fast verification
Answer: a) Buy market-if-touched (MIT) at $25
A **market-if-touched (MIT)** buy order at $25 is triggered when the stock falls to the touch price, and then it becomes a market order. That makes it the best choice when **execution is more important than price precision**. A limit order would protect price but may not fill, and fill-or-kill focuses on immediate full execution rather than the specific trigger behavior described.
Author: Manit Arora
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Q-149.3. Assume you have no position in a stock with a current market price of $35. You want to opportunistically "buy on the dip" if the stock drops to $25 and if the stock drops to $25, you want to fill your entire order regardless of the exact price (i.e., it is more important to fill the order than guarantee the execution price). Which order is BEST?
A
a) Buy market-if-touched (MIT) at $25
B
b) Buy market order at $25
C
c) Buy limit order at $25
D
d) Buy fill-or-kill at $25
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