Lifecycle and Settlement
Expiry
What happens when the deadline arrives.
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Expiry is the deadline. After expiry, the option can no longer be used under its original terms.
1
Buyer outcome
- If the option expires unexercised, the buyer usually loses the premium and fees.
- The buyer does not receive a settlement benefit unless exercise completed under the terms.
2
Writer outcome
- The writer usually keeps the premium.
- Inventory or collateral may unlock after expiry and release checks.
3
Timing reminder
- Expiry does not always mean instant release.
- Final checks, network steps, or beta review can take extra time.