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docs(options): expiration is the settlement value time, on every page that describes it - #234
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… that describes it Owner, 2026-10-26: an option's `expiration` is the settlement value time, the moment the price that decides the payout is fixed; not the last trading time and not the OCC expiration time. Written for the API as fixed by MarketData-App/api#641, which makes chain and quotes agree and applies the rule that held on each date. - api/dates-and-times: a new "Option Expiration" section defines it, with a table (stock and PM-settled index options at the 4:00 PM close, AM-settled index options at the 9:30 AM opening quotation, 1:00 PM on an early close), says it is not the last trading time, and says history follows the rule of its date. It is also the end point for time to expiration in Greeks. - api/options/chain and quotes: the `expiration` field points at it. - chain `am`/`pm`: defined by settlement (open vs close), with examples, not as "A.M. expirations". The caution said a stock or ETF gets a bad parameters error; measured 2026-10-26, AAPL with am=true, pm=true and am=false returns the chain unchanged, as the Go SDK page already said. - SDK pages (js, py, php, go) that described the field as an expiration date. Sources checked the same day: Cboe SPX, VIX/VIXW, DJX, RUI and RUT specifications; Nasdaq's NDX/NDXP factsheet ("Trading in NDX index options will ordinarily cease on the business day (usually a Thursday), preceding the day on which the exercise-settlement value is calculated"; NDXP "will ordinarily cease at 4:00 p.m. ET on the day on which the exercise-settlement value is calculated").
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Release c933841: an option's
expirationis the settlement value time, on every page that describes it.expirationfield points at it; chainam/pmare defined by settlement.The pages describe the API after MarketData-App/api#641 is fixed. Until #641 ships, the quotes endpoint returns 4:00 PM for AM-settled contracts where the docs say 9:30 AM. The owner chose to release now (website board item web-3dg, 2026-11-06).
stagingismainplus c933841 and the merge of #232. The website half is MarketData-App/website#173.