Generally the last date on which a future and an option contract may be exercised. It is the date specified in the contracts. This is the last day on which the contract will be traded, at the end of which it will cease to exist.
“The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.”
The period at the beginning of the trading session officially designated by the exchange during which all transactions are considered made “at the open.”