Stop orders are primarily utilized to offer protection against a long position.
A stop order lets you exit your position once the market reaches a specified price, known as the stop price. When the stop price is reached, it triggers a market order.
As with any market order in volatile markets, a market order triggered at the stop price may receive an execution price significantly different from the quoted price of that asset when the order is triggered.
Please note that at this time, The PIT does not offer buy stop orders, though we may in the future.