Define the Terms ‘Strike Price’ and ‘Expiration Date’ in the Context of a Tokenized Options Contract

The strike price is the predetermined price at which the underlying asset can be bought (call) or sold (put) if the option is exercised. The expiration date is the last day the option holder has the right to exercise the contract.

After this date, the contract becomes worthless. Both are fundamental parameters that determine the option's value and are encoded in the smart contract.