What is the validity of SLS orders?

What is the validity of SLS orders?

• A. Good-for-day orders only (valid until close of trading on the current trading day).
• B. Immediate-or-cancel.
• C. Good-till-cancelled.
• D. Good-for-week.

Answer: (A)

SLS orders are designed to be active only for the current trading day, expiring automatically at the end of the day if they haven’t been filled. That makes them good-for-day by definition, since they don’t persist overnight or into subsequent days. The other options describe order types with different expiry rules: immediate-or-cancel would try to fill immediately and cancel any unfilled portion, good-till-cancelled would stay active until executed or canceled, and good-for-week would remain valid for a longer period.

SLS orders are designed to be active only for the current trading day, expiring automatically at the end of the day if they haven’t been filled. That makes them good-for-day by definition, since they don’t persist overnight or into subsequent days. The other options describe order types with different expiry rules: immediate-or-cancel would try to fill immediately and cancel any unfilled portion, good-till-cancelled would stay active until executed or canceled, and good-for-week would remain valid for a longer period.