An order that gives instructions to cancel the order if the price conditions are not met by the end of the trading day is called a ____ order.
A) Market
B) Stop
C) Limit
D) Day
E) Fill or kill

Question

Quizplus · Accepted Answer

A Day order is an order type that automatically gets canceled at the end of the trading day if the specified price condition is not met. It is used when a trader wants to execute a trade at a specific price or better during the day's trading session. A Market order is an order to buy or sell a security immediately at the best available current price, a Stop order is an order to buy or sell a security once the price of the security reaches a certain level, a Limit order is an order to buy or sell a security at a specific price or better, and a Fill or Kill order is an order to execute a trade immediately and completely or not at all. None of these options fit the description given in the question.

An Order That Gives Instructions to Cancel the Order If