6.3.1.3.3. Buy and Sell Stop-with-Limit Orders
If a stop-limit order is a stop order whose stop price becomes a limit price once it is triggered, a stop-with-limit order is a stop-limit order whose limit price is different from the stop price. A buy stop-with-limit order is set above the market price and filled no higher than the higher limit price. A sell stop-with-limit order is set below the market price and filled no lower than the lower limit price.
Note: Some exchanges do not distinguish between stop-limit orders and stop-with-limit orders. Where they do not, a stop-limit order may have a different limit price than the stop price.
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SUMMARY TABLE Stop-Limit Order vs. Stop-with-Limit Order |
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Type of Order |
Limit Price |
Order Placed |
Order Executed |
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Buy stop-limit |
Same as stop price |
Above market |
At or below limit |
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Buy stop-with-limit |
Higher than stop price |
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Sell stop-limit |
Same as stop price |
Below market |
At or above limit |