If you are dealing with a broker, you may hear the following terms. Please check with your broker for clarity and understanding.
- GTC (Good [un]Til Cancelled) – An order that stays in effect until it fills, the customer cancels the order, or the offer delivery time frame expires.
- Market Order – A futures or options order that is meant to get filled immediately at the current market price.
- Limit Order – A futures or options order that is meant to get filled at a specific price.