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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.
Last but not least is the option period end date. The option period functions on calendar days, not business days. This means that if a contract is effective July 1st, and one has paid $100 for a ten day option period; the right to terminate expires at midnight on July 11th.