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BREAKING DOWN 'Expiration Date (Derivatives)'. The expiration date for all listed stock options in the United States is normally the third Friday of the contract month, which is the month when the contract expires.However, when that Friday falls on a holiday, the expiration date is on the Thursday immediately before the third Friday.Once an options or futures contract passes its expiration date, the contract is invalid.owever, when that Friday falls on a holiday, the expiration date is on the Thursday immediately before the third Friday. Once an options or futures contract passes its expiration date, the contract is invalid.
Weekly options (aka Weeklys) are calls and puts listed with one week expiration dates. They are typically listed on a Thursday and expire on the Friday of the following week. The Friday is both the last trading day and the expiration date (this is also referred to as PM Settled).