Expiration, or expiry, refers to the end of the validity or usefulness of something such as a product, service, agreement, or contract. It can also refer to the act of breathing out air from the lungs, which is the opposite of inhalation. In the context of financial markets, expiration refers to the last day that a derivative contract can be traded, exercised, or settled. The expiration date is important as it determines the remaining lifespan of a product or service, and can also affect pricing and availability. Understanding expiration is important in various contexts, including business, health, finance, and legal matters.
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