1. You decided to buy 100 shares of ABM Corp. Currently, it is trading at $43 per share. You think you can get a better price and place a limit order to buy shares at $42 per share. During the next month, the stock drops to $40 and then recovers to $44. What is your profit?
2. You decided to buy 400 shares of ABM Corp. that is trading at $37 per share. You want to get a better price and place a limit order to buy shares at $35 per share. During the next month, the stock drops to $36 and then recovers to $38. What is your profit?
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