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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.
The inclusion of SPX Weeklys allows the VIX Index to be calculated with S&P 500 Index option series. that most precisely match the 30-day target timeframe for expected volatility that the VIX Index is. intended to represent. Using SPX options with more than 23 days and less than 37 days to expiration.