LULD
Definition · Level 0 · Market basics
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Limit up–limit down: single-stock price bands around the average price of the prior 5 minutes (5% or 10% for most stocks above $3); if the quote stays pinned at a band for 15 seconds, trading pauses for 5 minutes.
Example
“ABC is limit down, five-minute pause.”
Rules and market figures change: check the current ones before relying on this.
Where Tradecraft teaches it
Level 0 · Market basics, in the lesson “Market plumbing & the trading day”: Who stands between you and the other side of your trade, how it settles, and when US stocks trade.
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