Order Types
Using the SLoBS and BLiSS memory trick, which orders are placed ABOVE the current market price?
SLoBS (Sell Limit, Buy Stop) = ABOVE market. BLiSS (Buy Limit, Sell Stop) = BELOW market.
Complete Analysis & Legal Rationale
SLoBS stands for "Sell Limit or Buy Stop" - these orders are placed ABOVE the market. A sell limit is placed above because you want to sell at a higher price. A buy stop is placed above to protect a short position if prices rise.
Distractor Autopsy (Why Other Options Are Traps)
FINRA exam writers design incorrect distractors using specific calculation mistakes and regulatory misconceptions. Review why each option succeeds or fails:
Does not match the governing concept in the explanation.
Matches the verified teaching point in the explanation.
Does not match the governing concept in the explanation.
Does not match the governing concept in the explanation.
Official Standard: Outline-level citation pending rule-specific upgrade. Verify against current FINRA Series 7 outline.