DAY ORDER

Buying or selling a security that expires automatically if the purchase is not executed on the day that the order was placed. It simply means that this is only good for the day the order was placed. If it is not filled it will be automatically canceled and will not be filled when the limit or stop price was not met. It is one of several different order duration types that determine how long the order will be in the market before it is canceled. For example, a "good till canceled (GTC)" order will remain active until it is manually canceled, while an "immediate or cancel (IOC)" order fills all or part of an order immediately and cancels the remaining part of the order.

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