Expiry Date

An expiry date is the last day you can buy or sell an options contract (a bet on whether a stock price will go up or down by a certain date). After that date, the contract disappears and becomes worthless. You'll run into this whenever you trade options—it's crucial because your entire position evaporates if you don't act before the deadline. Think of it like a coupon: if you have an option expiring on March 15th, you must exercise it (use it) or close it out by end of day on March 15th, or it's gone. Most retail investors focus on expiry dates a few weeks to a few months away, since options closer to expiration move faster and are riskier.