# Expiration

*Derivatives & Options — Finicade finance glossary*

The date an option or futures contract ends. For an option, it's the deadline to exercise — and the moment all remaining time value hits zero, so the choice is now or never.

**Also known as:** expiry, horizon

**Related terms:** [Option](https://finicade.com/glossary/option), [Time Value](https://finicade.com/glossary/time-value), [Early Exercise](https://finicade.com/glossary/early-exercise)

**Taught in:** Risk Arena — VaR: One Number for the Tail

Source: https://finicade.com/glossary/expiration