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Introduction to the Last Trading Day The last trading day, also known as the final settlement day or the value date, refers to the day before a futures or options contract expires when no new trades are permitted, and all open positions must be settled in cash or with the
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What is Expiration Time? Expiration time in derivatives trading refers to the specific point in time when an options or futures contract ceases to exist. This crucial concept differs significantly from the expiration date, which signifies the deadline for traders to make their intentions clear regarding exercising or closing their
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