Hit The Bid
A buzzword used to describe an event where a broker agrees to sell at a bid price quoted by another broker. The broker is ultimately agreeing to sell a given stock at the highest price that another broker is willing to buy at. Investopedia Says:
For example, suppose a dealer is asking $20 for a particular security and another dealer's bid price for that same security is $19. If the dealer selling the security for $20 agrees to sell at the other dealer's bid price of $19, they are said to "hit the bid". Related Terms:
Ask
Best Ask
Best Bid
Bid
Bid Whacker
Eighthed
Spread
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