An order specification that requires the broker to get the best price available on the close of trading, usually during the last five minutes of trading.
See Also:
Close: A reduction or an elimination of an open position by the appropriate offsetting purchase or sale. An existing long option position is closed by a selling transaction. An existing short option position is closed by a purchase transaction. This transaction will reduce the open interest for the specific option involved.
Market: A specific asset, security or commodity that is traded at an exchange.
