First of all, let's be clear that "Expiry" and "Expiration" mean the same thing. The expiry date of a call or put option is the date that the option expires. However, over the last few years the option exchanges have begun issuing call and put options that have a weekly expiry.

The weekly expirations are not for every option, but just the most actively traded indices, stocks, and ETFs. When you have call or put options in your brokerage account that are close to the expiry date, you will typically receive email reminders from the broker or you might receive alerts when you login to your brokerage account.

These emails or alerts will begin at the first of the month of the expiry date, and then again on the Monday before the expiry date, and then again finally on the morning of the expiry date. On or before the expiry date, if your option is in the money, you must either sell your option or exercise it by this date.

If you have a call option, you would buy the stock at the strike price. If you have a put option, you would sell the stock at the strike price.

Expiration-Exercise-Assignment

If the option is "out of the money" then the option just expires worthless and drops off of your account and you lose all of the money that you spent on the option. Here are the top 10 option concepts you should understand before making your first real trade:. Options trade on the Chicago Board of Options Exchange and the prices are reported by the Option Pricing Reporting Authority OPRA:.

What are Stock Options? Call and Put Options Weekly Options Binary Options American Style Options European Style Options LEAP Options Index Options Call Options What are Call Options?

What is a Stock Option? Call and Put Option Weekly Option Binary Option American Style Option European Style Option LEAP Option Index Option.

Options Expiration Explained

What is a Call Option? What is a Put Option? Make Money with Put Options Long Put Options In The Money Put Options.

How To Buy Calls Selling Calls Writing Covered Calls Using A Stop Order Selling A Naked Call Selling A Naked Put Exercising An Option Options Pricing Black Scholes Valuation.

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Option Definitions At The Money In The Money Deep In The Money Out Of The Money Expiry Dates Ex-Dividend Dates Volatility Index.

Expiry Date Related Terms: At the Money In the Money Out of the Money Deep in the Money Definition of Expiry Date: Here are the top 10 option concepts you should understand before making your first real trade: What is a Call? What is a Put? Option Expiration Strike Price Understanding Option Pricing Best Discount Option Brokers Buying A Call Option Making Money with Options Exercising Options Writing Call Options.

CBOE OPRA SEC OIC.