Sell stop-limit order
A sell stop-limit order has a trigger below the current price and a limit. When price trades at the trigger, it sends a sell limit that fills only down to the limit.
Trigger 97, limit 96.50: you sell between 97 and 96.50, never lower. If price gaps from 97 to 95, nothing fills and you are still in the trade, which is why it is a risky choice for a protective stop. See also stop-limit order.
Learn more: types of orders.