Source: https://mochatrade.com/learn/glossary/strike-price-and-expiry

# Strike price and expiry
URL: https://mochatrade.com/learn/glossary/strike-price-and-expiry
Last modified: 2026-10-17

The strike price is where an option pays; expiry is when a contract ends. Expiry is what ties a future to the real price, which is why [the gap goes to zero on expiry day](https://mochatrade.com/learn/start-here/quiz). A perpetual has no expiry, so [something else must pull its price back](https://mochatrade.com/support/what-is-a-perpetual-contract-and-does-it-expire), and [Module 3](https://mochatrade.com/learn) asks what is left when expiry is removed.

## Related terms

- Cost of carry: https://mochatrade.com/learn/glossary/cost-of-carry
- Futures contract: https://mochatrade.com/learn/glossary/futures-contract
- Options contract: https://mochatrade.com/learn/glossary/options-contract
- Call option: https://mochatrade.com/learn/glossary/call-option
- Perpetual futures: https://mochatrade.com/learn/glossary/perpetual-futures
- Spot price vs futures price: https://mochatrade.com/learn/glossary/spot-price-vs-futures-price

Educational content only. Not investment advice. Leveraged products magnify losses as well as gains.