when in the month does Future actually mature?

CFA Level II Derivatives
#1

Hi Everyone,

I was just wondering, when in the month given for maturity does the future generally matures.

  • beginning of the month (ie the first)

  • end of the month

  • or is there a specific date, like a convention (for instance: third thursday of the month, (jus a random example to illustrate)

thanks.

#2

depends on the product but it’s typically the end of the 3rd week of the month.

#3

Most of the expiration on the US Futures is the third FRIDAY of the month. For some commodities its the third Wednesday.

#4

Thanks. it was in relation to a question asking to value a future on the 1of nov. The contract was for november, so in this case there is still about 3 weeks to maturity.

Thanks again