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The time an option contract lapses.

Expiration Date

The date by which an option contract is abandoned and becomes worthless unless it is exercised. In an option contract, the holder has the right, but not the obligation, to buy or sell (depending on the type of option) the underlying asset within a certain period of time. The expiration date is the time at which the holder will lose the right to exercise the option. A European option can only be exercised on the expiration date, while an American option can be exercised at any point prior to the expiration date.


The relinquishment of the rights of an options contract by permitting the contract to terminate on the expiration date. Also called abandonment.
References in periodicals archive ?
Flat Expiration Curve January 93.3 February 204.21 March 312.37 April 391.28 May 470.73 June 554.42 July 618.97 August 683.74 September 756.33 October 825.51 November 906.91 December 998.65 Note: Table made from bar graph.
The Affordable Care Act, presuming it stands as currently structured, could impact genetic growth in 2013 more than brand patent expirations as millions of Americans gain prescription drug coverage.
The importance of expiration day effects on the cash market to regulators has, in turn, generated interest on such effects within the research community.
In this paper, building on Vipul (2005), we examine the expiration day effects of equity index derivatives at the National Stock Exchange (NSE) in India, the second fastest growing (emerging) economy in the world.
For many investors, their portfolio is marked to market on a quarterly basis, and they may be inclined to use quarterly month expirations. Moreover, stock index futures only expire quarterly, and arbitrage opportunities might further drive interest in quarterly single stock futures contracts.
In other financial futures markets, contracts are limited to quarterly expirations. Beside the previously mentioned stock index futures, examples of pure cost-of-carry markets with only quarterly expirations include foreign exchange and Treasury futures contracts.
Research on the effect of option expiration on non-expiring options is relatively scarce.
Stocks with options listed on the CBOE are classified into one of three expiration cycles.
By using lease expiration management to develop rent rates that encourage optimal lease terms, some companies are taking revenue management one step further.
"Although the expiration of the Prozac patent led to a rapid and almost complete transition to generics, the expiration of a drug patent does not always mean the immediate introduction of lower-price generics," says Raulo Frear, vice president of clinical services.
These communities must keep the lease expirations extremely low in the months that students typically move out, usually in December, May and June.
Forced expiration by producing an accentuation of the normal expiratory movements of the bronchial tree, i.e., narrowing and shortening, squeezes mucus from the small peripheral to the larger central bronchi.