Meaning and market context
Ask, also called offer, refers to the seller. For an immediate purchase, the relevant opposing quotes are sellers’ offers, not other buyers’ bids. Investor.gov uses this distinction when explaining market orders.[4](#source-cm-orders) The best ask generally means the lowest matching offer in the selected book, but the available quantity and data regime also matter.
Displayed price and execution limits
A displayed price does not mean that the entire requested quantity is available at that price or will remain available after an order is submitted. For a bond, also check the face value, quotation method and accrued coupon interest. The SEC treats the ask–bid spread separately from other costs.[5](#source-cm-etf)
What ask does not guarantee
Ask is not a guarantee of the execution price, an assessment of reliability or a promise of future growth. If a source shows only the last trade, that is a different type of value. [Order-book depth](/guides/liquidity-depth-price-impact/) explains how a quote can lead to several available levels.