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What Happens to the Premium of an OTM Option at Expiration?

The OTM option's premium decays to zero at expiration.
Greeks.Live22.11.25

What Happens to the Premium of an OTM Option at Expiration?

If an Out-The-Money (OTM) option remains OTM until expiration, its premium decays entirely to zero. The option expires worthless, and the buyer loses the full premium paid.

This is the goal of the option seller.

How Does the Time until Expiration Affect the Extrinsic Value of an Option?
How Does Time Value (Extrinsic Value) Relate to an Option’s Total Premium?
How Does the Probability of Assignment Change as the Option Approaches Expiration?
What Happens to the Time Value of an ATM Option at Expiration?

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