Expiry Date
a.k.a. Expiration date
The last day a futures or options contract is valid, after which it settles or expires worthless.
In plain English
The last day a futures or options contract is valid, after which it settles or expires worthless.
Every option and futures contract has an expiry date. Options give their right up to (or on) that date and then lapse. Futures settle, either in cash or by delivery.
In FX, large option expiries near the current price can tug spot around as the deadline approaches, a theme traders call 'option expiries'.
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