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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.
Options at each expiration date come with a range of strike prices -- the stock prices at which the option can be exercised. For call options, the stock must move above the strike price to turn a profit; with puts, an option has value when the stock goes below the option strike price.