Good Til Cancelled (abbreviation: GTC) – an option order (usually a limit order) that is kept live indefinitely after every trading day until it is filled or it expires. This is good automatic profit taking order for strategies like iron condors, for example to enforce exiting at 50% of max profit. However importantly with the 30 day rule, a GTC order must NEVER be entered on option legs that have been open for less or equal to 30 days.

Under certain conditions, the GTC will also be automatically expired by the brokerage, for example if the expiration date on the underlying options in the order has already past.

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