EXPIRY DATE/PRICE
The exact date and hour at which an option expires. 10:00 a.m. ET (also known as 10:00 a.m. NY time or NY cut) and 3:00 p.m. Tokyo time are the two most prevalent option expirations (also referred to as 15:00 Tokyo time or Tokyo cut). As option hedges in the spot market unwind, these time periods often witness an upsurge in activity.
