There is a security specific circuit breaker system, similar to the market wide system, that is known as the "Limit Up - Limit Down Plan" (LULD). This LULD system succeeds the previous system that only prevented dramatic losses, but not speculative gains, in a short amount of time. This rule is in place to combat security specific volatility as opposed to market wide volatility. The thresholds for a trading halt on an individual security are as follows. Each percentage change in value has to occur within a 5-minute window in order for a trading halt to be enacted:
- 10% change in value of any security that is included in the S&P 500 index, the Russell 1000 index, and the Invesco PowerShares QQQ ETF.
- 30% change in value of any security that has a price equal to or greater than $1
- 50% change in value of any security that has a price less than $1
The previous trading day's closing price is used to determine which price range a specific security falls into.[5]
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