What Is the Difference between a “Day Order” and a “Good-Til-Date” (GTD) Order?
A Day Order is a Time in Force (TIF) instruction that specifies the order will automatically expire if it is not executed by the end of the current trading day. A Good-Til-Date (GTD) order, however, remains active until a specific date set by the trader, or until it is executed or canceled.
Both are used to manage the lifespan of a limit order, but GTD provides a longer time horizon, which can be useful for non-aggressive price targets.
Glossar
Order
Execution ⎊ An order, within cryptocurrency, options, and derivatives, represents a conditional instruction communicated to an exchange or trading venue to buy or sell an asset at a specified price or under defined parameters.
Day Order
Order ⎊ A day order, within cryptocurrency derivatives and options trading, represents an instruction to execute a trade that is valid only until the end of the current trading session.
Specific Date
Expiration ⎊ A specific date denotes the terminal point for a derivative contract, fundamentally impacting its time value and associated risk profile.