We examine the expiration effects of derivatives on the market index as opposed to prices of individual stocks because this allows us to mitigate problems that might arise on account of information that affect prices of individual stocks much more than a broader market index.
Our results indicate that NSE expiration of index-based derivatives contracts have a significant impact on the trading volumes in the cash market; the volume of trading is higher on expiration days than on nonexpiration days.
In the beginning of our sample period, contract expirations included two serial months and two quarterly months.
Dichotomizing the trading volume of the specific expirations into the serial and quarterly months, we find a majority of the volume occurs when there is a quarterly expiration date.
In response to market demand for short maturity options, exchanges began modification of expiration cycles in late 1984.
Our primary objective is to analyze the impact that option expiration has on non-expiring options.
Because the company operates many strongly seasonal communities, it has used manual lease expiration management with its communities to move renewals outside of the slow months, says Erik Rogers, Vice President of Business Intelligence and Technology for the San Francisco-based real estate investor and operator.
Since 2008, however, Carmel Partners has used a revenue management system to employ automated lease expiration management, or LEM, a technique that guides leases to expire at a time that maximizes revenue.
The first step is to use various lease length terms to obtain the even spread of the lease expirations. Although in the past most community managers tended to offer only six-month or 12-month leases, a growing number of top firms currently offer flexible lease terms in three- to 15-month increments.
Lease management--the practice of spreading the lease expiration dates at a community over the course of the year--is paramount in this process.
Another argument against the use of forced expiration is that it actually irritates the bronchial mucosa and produces more mucus.
(1) Management of the attack by relaxation and breathing control, i.e., inspiratory diaphragmatic mobilization and modified forced expiration.