™On a quote of $49.95 bid and $50.05 ask, day order helps explain part of what can happen between submitting an order and receiving a fill.
Orders & Market Structure
Day order
An order that expires if it is not executed by the end of that trading session.
Plain-English context
Why it matters
Market-structure language affects how an instruction reaches the market and the price or execution a trader may actually receive.
Assuming Day order has one universal interpretation without checking the source, rules, timeframe or methodology.
Use current definitions. Product terms, tax treatment and market rules can change. Confirm important details with official disclosures, regulators and regulated providers.