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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.
European style options: an option contract that can only be exercised on the expiration date. For the most part, share assignment will not occur until after expiration Friday when the agreed upon strike price is below the current market value.his is the nature of American style options as opposed to European style options. American style options: an option contract that may be exercised at any time between the date of purchase (sale) and the expiration date. These are the options that we, as CC writers, deal with.