Expiry date definition
The point when a trading position automatically closes is known as the expiry date (or expiration date).
Expiry dates are key to futures, digital 100s and options trades, as they all involve predicting the movement of a market within a defined period of time. In the case of futures and digital 100s, profit or loss is decided automatically once the expiry date is reached.
Options give the trader the right – but not the obligation – to buy or sell an asset once it reaches a certain price, but only if it reaches that price before the option expires.