In montreal, the expiry date falls on a saturday for options. the last trading day foroptions would be the last business day before the saturday expiry.for rights, the rules are different on the tsx and tsx venture exchange. expiry takesplace on a business day and trading can take place on the expiry day based on therules set out by the exchange.the true meaning of expiry date is the date at which the right or warrant or optionceases to exist. for some products, the last trading day occurs before the expiry day(e.g., options) while for others the last trading day can occur on the expiry day (e.g.,rights and warrants).
