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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

either-or order  

Definition 1.

Two orders given to a broker, for which the execution of either one automatically cancels the other. One example is combining a buy limit order with buy stop order.The buy limit order will only be executed if the market price is below a specified price, and the buy stop order will only be executed if the market price is above a certain price. If one order is executed, the other is cancelled. also called alternative order.
 

Definition 2.

Used in the context of general equities. See: Alternative order.
 
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