what is the difference between the bid and the ask price 
a bid price is the most a buyer will pay an ask price is the least the seller will accept for the stock the difference is known as the spread bonds with high levels of liquidity such as treasurys generally have spreads of a few pennies between the bid and the ask price in a full quote the spreads on corporate bonds with lower levels of liquidity can exceed 1 a full quote on an illiquid corporate bond could list a last trade of 98 with a bid of 97 and an ask price of 99 5