How Does the ‘Expiration Time’ of a Binary Option Relate to the Oracle’s Data Submission?

The expiration time is the precise moment at which the binary option's underlying condition must be evaluated. The oracle is strictly required to submit its definitive data report after this expiration time has passed, but as close to it as possible to finalize the settlement.

If the oracle submits the data before the expiration time, the contract is invalid; if it is too late, the settlement is delayed, increasing counterparty risk.