When the seller of a contract accepts the highest current price bid for a contract. For example, if the current market is in a Total Wins contract is 2.3 bid at 2.6, a trader may sell at 2.3, thereby "hitting" the best bid. (See Lift the Offer).
Acceptance of purchasing at the offer or selling at the bid.
Situation in which a dealer agrees to sell at the highest price offered ("bid") by another dealer for a given stock.
This is the term used for when traders sell to the current posted bid.
dealer who agrees to sell at the bid price quoted by another dealer is said to "hit" that bid. Antithesis of take the offer.
Seller's acceptance of the highest price offered for a stock. For example, if a stock's ask price is $24 1/4 and the current bid price is $24, sellers will hit the bid if they accept $24 a share. See: Asked Price