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The last date, usually the last Thursday of the month, on which an Option contract expires.
The date at which the options contract expires.
The shares we buy in cash can be hold for as long as you want. In case of options, the contract comes with an expiry date. You cannot hold the option contact after its expiry date.
Each options contact has its own expiry date which could be a month, quater, half-year or higher based on the underlying asset.
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