Situation in which the expiration date for an option passes without the option being exercised or offset. Chicago Mercantile Exchange Glossary

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expire ex‧pire [ɪkˈspaɪə ǁ -ˈspaɪr] verb [intransitive]
1. LAW if an official document such as a contract, agreement, or licence expires, the period of time during which it can be used ends:

• If your Program disk proves defective after the warranty expires, you will end up paying a fee of £200 to replace it.

• The existing lease expires at the end of this year.

2. if a period of time expires, it comes to an end:

• The Panel will not take any action until the appeal period of two business days has expired.

• If you cannot complete the work on time, then you should contact the client before the deadline expires.

3. FINANCE if an option (= the right to buy a particular amount of shares, currency etc in the future) expires, it can no longer be Exercised (= it is no longer possible to buy the shares, currency etc that it relates to):

• When the October options expire, the clearing house for the market will create a new series of options for July expiry.

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expire UK US /ɪkˈspaɪər/ verb [I]
to come to an end after a fixed length of time: »

a contract/lease/licence expires


This offer expires on 31 March 2012.

set/scheduled/due to expire »

The warranty period is due to expire at the end of November.


Under current law, the state's earned-income tax credit would expire after this year.

FINANCE, STOCK MARKET if an option (= the right to buy or sell particular shares) expires, it can no longer be exercised (= used): »

The investment options expire on February 5.

Financial and business terms. 2012.


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