What is Limit Up–Limit Down (LULD)?Limit Up–Limit Down

An intraday safeguard for individual US stocks: a band is set around the average price of the last few minutes, and if the price breaks out and doesn't come back, the stock pauses for about 5 minutes.

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US Stock Rules
Circuit Breakers and LULD
Individual US stocks have no daily price limits, but a 7%, 13% or 20% drop in the broad market triggers a circuit breaker, and a stock that breaks out of its LULD band is paused for a few minutes.

Related terms

price limit
circuit breaker
volatility interruption

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Go to “Circuit Breakers and LULD”