It is based on the trader, those who are planning to hold it positional like to do it earlier to avoid volatility that is typically seen in the last day/last few mins of expiry.
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On the expiry day, especially during last few hours there is one critical thing that happens - STT charges start getting priced in. This decreases option price drastically (on relative basis) and some times it is available at discount. This would result in additional loss.
Remember STT charges for ITM options if exercised are pretty high.
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