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Wiktionary
punch out

n. (context baseball English) An instance of a called third strike. vb. 1 (label en transitive) To repeatedly hit a person 2 (label en transitive) To hit so they become unconscious (knocked out) 3 (label en transitive) To use a punch to remove a piece of material or to remove a piece already scored. 4 (label en intransitive) To leave a workplace by punching a timecard 5 (label en intransitive) To leave a workplace 6 (label en intransitive) To eject from an airplane. 7 (label en transitive baseball) To rule (by an umpire) that a pitch is a called third strike, often done emphatically. 8 (label en transitive baseball) To throw a called third strike.

WordNet
punch out

v. register one's departure from work [syn: clock out, clock off] [ant: clock in, clock in]

Wikipedia
Punch Out (Ugly Betty)

"Punch Out" (also known as "Why Do You Want to Treat Me So Bad?") is the 19th episode from the dramedy series Ugly Betty, which aired on April 19, 2007. The episode was written by Oliver Goldstick and produced by Miguel Arteta.

Usage examples of "punch out".

He wanted to punch out at the tall master for even insinuating otherwise.

When I was merely human, it was just a way to concentrate, to get the maximum punch out of your body.

Flew two missions with Colonel, I mean General, Crespin's Comet Group and had to punch out or eat a bomber torpedo.