What Does Good This Week Mean?
Good this week (GTW) is a market order that is only valid in the week of its placement. If the order is not filled during the week of issue, it will be canceled. A GTW order is only active for the current week; the order will no longer be effective by close of the last day of trading of the week if it has not been executed by then.
Understanding Good This Week (GTW)
The duration of the order allows the investor to set a bid or an ask in a desired time frame, but the investor must be cognizant of timing a trade. For example, let's say it is currently Wednesday and news that may move a company's stock will be released next Monday morning before the market opens. If an investor wishes to buy or sell the stock anytime before the news is released, he or she may place a GTW order to buy or sell these shares before the news arrives. The order will be good until the end of Friday of the current week but will become invalid for Monday's news release. That means if the investor has a bullish view on the stock before the news release and his GTW order does not get filled, he may miss out on potential gains if the market positively reacts to the news.
GTW is rarely an option, if at all, for an online trader. Instead, online brokers offer "good for day" or "good 'til canceled" (GTC) options. GTW orders may be placed by an investor with his stockbroker, a person who can provide this more customized level of service.