Good 'til Canceled (GTC) and Good 'til Date (GTD) Orders
Good 'til Canceled (GTC) and Good 'til Date (GTD) orders allow you to specify the time duration of certain trades. They are referred to as Time in Force designations for trades and can be applied to any buy or sell order that is entered with a limit, stop, stop limit, and any advanced order type.
A Good 'til Canceled (GTC) order will remain in effect until the order is executed, until you cancel the order, or until the last business day of the month following the month in which the order was entered, whichever occurs first. For example, if a GTC order was placed on Feb. 11, 20XX, the order would remain open until the last business day of March 20XX, unless the order was filled or canceled prior to the end of the month.
A Good 'til Date (GTD) order allows you to enter a specific date and time of day when you would like for your order to expire. GTD trades have a maximum duration of 90 calendar days. The expiration date entered must be a market day and cannot be a holiday or weekend. The time of day entered must be between the hours of 10 a.m. and 4 p.m. ET in half-hour increments only.
If a GTC or GTD order partially executes over separate days, separate commissions will be charged each day that an execution occurs.GTD orders can only be placed online. Broker assistance is not currently available for placing GTD orders. Additionally, GTC and GTD order designations are not available during the extended hours trading sessions.