Percentage Bands for trades
So as I'm studying for my exam I have a question to ask. When entering a trade it must fall within the designated percentage bands from the NBBO but also comply with the percentage band of clearly erroneous and also LULD bands? Im quite confused because they are not relatively close in terms of percentages.
Ie: Tier 1 stock ABC is quoted at 23.10-23.20 at 10 am Designated percentage is 8% Clearly Erroneous is 5% LULD is 5% (doubles outside of market hours) What price would be acceptable ? I would have to determine all these prices before entering a quote or trade? Can someone clear this up for me as it is a large portion of the exam.
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