Glossary term
Expiration
The fixed date on which an option contract resolves; available as weekly, monthly, or long-dated LEAPS expiries.
Expiration is the fixed date on which an option contract resolves — either exercised, assigned, or expiring worthless. Contracts trade across weekly, monthly, and long-dated LEAPS cycles, with monthly options expiring the third Friday of each month. Time decay (theta) accelerates as expiration approaches, which is why premium-selling strategies target specific expiry windows. See Options 101.