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Expiration refers to the date on which a contract terminates.

Expanded Definition

Several investment products have expiration dates. The most common ones are stock options. An option grants the right to buy or sell a stock or other asset as a specified price on a specified date. That right can have a market value and some are actively traded on markets like the Chicago Board Option Exchange (CBOE). When the option expires, it is void, and has no further market value.

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