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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.
In finance, the expiration date of an option contract is the last date on which the holder of the option may exercise it according to its terms.he clearing firm may automatically exercise by exception any option that is in the money at expiration to preserve its value for the holder of the option and at the same time, benefit from the commission fees collected from the account holder.