For example, if you hold a crude oil futures contract that expires on May 15th, 2025, the contract must be settled by that date. The settlement could either be through physical delivery of the asset or a cash settlement, depending on the terms of the contract. Understanding the exact futures contract expiration dates is essential to determine when the position will close and how it wi... https://www.financiafutures.com/blog/understanding-futures-contract-expiration-dates