Series 65: 4.1.7.4.3 Expiration

4.1.7.4.3  Expiration

Expiration occurs when an option is out-of-the-money and the buyer lets the option go to term (expiration date) without ever exercising it. He might be willing to liquidate it, but if the option is out-of-the-money, and there is little or no time left before expirat