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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.
Effective February 1, 2015, the expiration day for monthly options will be Friday whereas prior to this day, the expiration day was Saturday. Except for a small number of grandfathered non-equity products with expiration dates already established as Saturday, options listed with expirations after February 1, 2015, will expire the third Friday of the month. If the third Friday falls on an exchange holiday, the expiration date will move to the Thursday preceding the third Friday.