Ex-Dividend Date

The date investors buying the stock will no longer receive the dividend. Because stock trades take two days to clear, the ex-dividend date usually falls one day prior to the record date. Investors that want to receive the dividend therefore need to purchase the stock prior to the ex-dividend date in order to receive the dividend.

This is a definition, not a recommendation. Options carry risk and can expire worthless. See how the desk actually trades at TrueTrader.