Which of the following orders is said to be “behind the market”? A. Limit buy order at 38 when the best bid is 39. B. Limit sell order at 38 when the best ask is 39. C. Market sell order when the best bid is 38 and the best ask is 39.
A limit buy order is behind the market if its limit price is below the best bid. A limit sell order is behind the market if its limit price is above the best ask. Market orders are never said to be behind the market.
