You can setup your pre-order to turn off automatically when quantity limits are reached or when the pre-order schedule date is expired.
You can turn on this setting as a default setting or by individual product.
As a Default Setting
At Products page, select the Default Settings.
Select Automatically set Pre-order to Off and save the changes.
Each time Pre-Order quantity limit is reached or schedule date expires, the Pre-Order will automatically turn off:
By default, all products will have this feature turned on.
By Individual Product
First, go to Products page and go to the product you wish to configure and click on Default/Custom Settings:
At If Pre-order is closed due to limit or date, select Automatically set Pre-order to OFF option:
Each time Pre-Order quantity limit is reached or schedule date expires, the Pre-Order will automatically turn off: