1.
An expiry date two years hence
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Lifetime cookies mean they have no expiry date
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If a customer buys after the expiry date (say 8 days or 91 days) then the
4.
It does not deplete or ceases with the expiry of our human incarnation
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status and expiry dates to stock and the lack of an alert system about batches
6.
money options are automatically exercised upon expiry, the
7.
If the share price goes up to $60 by the expiry date, you can
8.
Therefore, only if the share price on expiry closes higher than $61 will this strategy prove worse than doing nothing at all
9.
premium is to close out the long position before expiry or to
10.
expiry, the greater the likelihood that it will
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option position before the expiry date and therefore the only
12.
the suspension continues over an expiry date, it may be
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the last business day of the expiry
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prices for each expiry month with new
15.
A second passport was well travelled and looked authentic, British in origin with four years to expiry date
16.
Then she saw the expiry date of the passport
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such, the expiry date should be shortened in the summer and in warm weather areas
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“Look at the expiry date
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Wonder why life had let fate withdraw its model brand well before its expiry time; but the lament in the obituaries about the loss to the society on account of those, who had long ceased to contribute amuses me; would the lack of meaningless hyperboles in them mean any disrespect to the departed? What about the living legends; the psyche of these spent forces makes an interesting reading; used as they were to adulations in their heydays, they tend to bemuse themselves at sundry events as the organizers eulogize them to add value to their own endeavors, and as if they came out of their oblivion, they head home to savor a peg or two to buttress their fantasy of falsity
20.
Given the sites immense strength today, it is not likely that this distant expiry is playing much of a role –
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After expiry of that period, no payment will
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• the expiry date
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European Option :A type of option that may be exercised only on its expiry date
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Sometimes I philosophize and think that marriages should have an expiry date, at the age of say forty-five or fifty or when the children go off to college
25.
He was still too young to be a cynic but he did know that there is an expiry date for everything
26.
800 pounds plus 2 1/2 % interest on the same, repayable quarterly in equal annual instalments until extinction by amortisation of loan advanced for purchase within a period of 20 years, amounting to an annual rental of 64 pounds, headrent included, the titledeeds to remain in possession of the lender or lenders with a saving clause envisaging forced sale, foreclosure and mutual compensation in the event of protracted failure to pay the terms assigned, otherwise the messuage to become the absolute property of the tenant occupier upon expiry of the period of years stipulated
27.
The later the trade, the more intense the hedging nearer to expiry vis-à-vis a more stale position that suddenly gets near the money and in play and was likely hedged long ago
28.
straddle: buying simultaneously a buy and a put option in a share with the same exercise price and expiry date; a technique in options trading used by investors who expect volatility in the price of the underlying shares, it widens the break-even point but means they can make money if there is a substantial movement in either direction
29.
Had this been a day where volume was not skewed by the monthly options expiry or periodic index rebalancing, then we would certainly view it as a distribution day
30.
However, because volume may have been skewed by an options expiry on this particular date, it has to be viewed with some skepticism since the market did finish up on the day
31.
There are Greeks for all of the factors that affect option values such as the spot price, the implied volatility, the time to expiry etc
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6 The spot price, the time until expiry and the expected (implied) volatility
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4 Changes in implied volatility and changes in the time remaining to expiry are probably the most significant risks to a delta-hedged option position
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Options also have an expiration date, the expiry
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stocks and indexes, allows the holder of the option to exercise at any time up until the expiry
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Options with a European exercise can be exercised only at expiry
37.
Expiry used to be the Saturday following the third Friday of every month, and for most stocks that is still true
38.
They are the time to expiry, or time value, and the price of the stock relative to the strike price, or intrinsic value
39.
50 if it has some time until expiry
40.
If the option is deeply in-the-money and close to expiry, it may move nearly penny for penny with a move in the stock price
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The column down the middle separating them lists the expiry first and then the various strikes underneath it
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Just know that this happens because they have an expiry
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It does cap your gains in a position if it is in-the-money (ITM) at expiry
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If the first expiry passes without being called, they write another covered call
45.
They sell puts with strikes below where they believe the stock will trade by expiry
46.
They rely on the combination of their analysis of the price movement and the time decay, theta, to lower the cost of the options until they get to expiry or a return acceptable to the writer
47.
Rolling the put means buying it back and then selling either a lower strike put (rolling down) or a longer expiry put (rolling out) or both (rolling down and out)
48.
A call spread is nothing more than buying a lower strike call and then selling a higher strike call of the same expiry
49.
With this trade, you will earn a credit to enter it because the option that you are selling is close to the price of the stock and has more value than the option that you are buying, which is less likely to be in-the-money at expiry
50.
So if you sell a 95 strike put for $2 on a stock with a price of 94, you can either collect $2 or be at risk to buy the stock on a closing price of the stock at expiry under 95
51.
If the price closes below 90 at expiry, your losses are capped
52.
This is because in essence you will have two options exercised at expiry
53.
Your losses at expiry are $5 but you made $1
54.
In actuality your broker will often take care of both exercises of this for you if they are both in-the-money at expiry
55.
In these trades we will elect to sell strikes that are unlikely to be in-the-money at expiry from our analysis of the technical situation in the chart
56.
But in this structure if the price at expiry is 45 or under, then you will also be put the stock due to the extra short put
57.
If the stock closes below 40 at expiry, you will be put the stock but at 40 and with a basis of 35
58.
The strike is chosen to reflect the potential resistance areas overhead with an understanding of the time until the expiry as well
59.
The perfect scenario for a trader who is long a call Calendar is for the stock price to close just under the strike price of the short option at expiry, making it worthless
60.
It is always possible that your strike pick will end up ITM at expiry
61.
So a Google 900 call at expiry when the stock price is 905 trades at the intrinsic value of $5
62.
The choices at expiry whether the price puts the short put ITM or not are the same
63.
In the macro view, this is a trade taken with the expectation that the price will close above 140 at September expiry
64.
This is the same reason to employ the short September expiry put in this put Calendar spread
65.
Here they are buying the August 150 put and selling the September 140 put in anticipation that the stock falls but meets with support before hitting 140 or bounces above 140 by the September expiry
66.
In practice, though, stocks move back and forth before expiry, and traders have the ability to close legs of the combination separately or time the price action
67.
The Goldman Sachs July 130/140/150 put Butterfly would be buying a July 130 put and a July 150 put and selling two July 140 puts, looking for a settlement price at July expiry near 140
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If there is a confluence of support from a Fibonacci level and a traditional pattern target, for example, that also coincides with large (in a relative sense) open interest in the options for that expiry, you have a great middle strike for your put Butterfly
69.
In the 190/180 put spread, if the price falls to only 191 at expiry you keep the entire premium from the spread sale
70.
And, in fact, if the stock just craters and closes at 170 or lower at expiry, the loss in the 190/180 put spread is matched by the gain on the 180/170 put spread
71.
This can be a good strategy for a stock that is trading in a channel well above a gap below near expiry
72.
As it approaches the July 2013 expiry, there is a gap below from 204 to 176 and support at 192 in between from the price action of March through April
73.
To give you an indication, with one month until expiry this 180 Straddle cost about $10 in mid-June
74.
This means that the stock would have to move outside of the range of 170 to 190 by expiry in one month to start to make a profit
75.
I find long Straddles to be most useful when several factors align: The stock is moving in a very tight channel for a long time, there are big gaps until support and resistance above and below the current price, and the Straddle is priced at what seems like a cheap implied move in the stock by expiry
76.
Taking the Straddle and adjusting it so that the put and call are on different strikes (still the same expiry) converts it to a Strangle
77.
In this combination the trader is looking for the price to remain between 169 and 191 at expiry, and preferably between 175 and 185, the full channel
78.
A bullish Risk Reversal is generally long a call and short a put at the same expiry, and a bearish Risk Reversal is long a put and short a call
79.
If the put and call have the same strike and expiry, it is often called a synthetic stock position
80.
This is because as the stock price rises the long call goes up in value, dollar for dollar, at expiry, and below the strike price for the put the short holder is exposed to the downside price action in the stock
81.
But since the trade was entered for a credit, the trader also makes a profit if the stock price does nothing for the two weeks until expiry
82.
Long a put spread or call spread Buy ATM call (or put) and sell OTM call (or put) with same expiry
83.
Short a put spread or call spread Sell ATM call (or put) and buy OTM call (or put) with same expiry
84.
Long a Diagonal Buy ATM put with near expiry and sell OTM put with distant expiry
85.
Long a Butterfly Buy ATM call, sell two higher strike calls, and buy highest strike call with same expiry
86.
Long a Strangle Buy put and call with different strikes for same expiry
87.
You need to determine which one is the right one: put or call, which expiry, and which strike
88.
It may be obvious like the at-the-money (ATM) call with the near month expiry, or not so obvious like the three-month-out call 15 percent above the market price
89.
If it is the case that the price does move above 70 before the July expiry, I can always buy the July 70 calls and sell the August 75 calls, converting the trade to a call spread with a short July put
90.
In options lingo, a pin is when large OI at a particular strike acts as a magnet to keep the stock price at that strike at expiry or to draw it to it
91.
15 move by expiry Friday, with implied volatility (IV) at 59 percent, above the July IV at 29 percent and the August IV at 21 percent
92.
00 move by expiry, with implied volatility at 40 percent above the August IV at 30 percent
93.
5 1 × 2 call spread a low weighting and save it until Friday (expiry) if it had not triggered yet
94.
Using options for an outer month concentrates any move in the stock to the price movement and less to changes in volatility and to changes in time to expiry
95.
70 move by expiry with implied volatility (IV) at 250 percent, well above the July monthly IV at 83 percent and the August IV at 67 percent
96.
5 Collar (free) to the stock position for protection to the downside for two weeks and still a potential for a 19 percent return at August expiry if it squeezes higher
97.
Because it was free, this meant that if the stock rose to 46 by July expiry I would be called away on the stock at 46 but have a $2 gain on the call spread as well, so the net sale price would be 48
98.
European Style: European-style options can be exercised only on expiry (not before)
99.
(In the case of a bull put spread): Limited to the initial credit; maximum profit is gained if the stock at expiry is above the higher strike
100.
(In the case of a bull put spread): Limited only to the difference between the two strikes less the initial credit; maximum loss is seen if at expiry the stock price is below the lower strike
