Expiry Date:

At any point of time, three varieties of option contracts are available when looked from the maturity angle, namely the near month, next month and far month contracts and the expiry dates are on the last Thursday of each month(near month refers to contracts that expire in the current and the other two are contracts having expiry dates in the next two subsequent months respectively)For example, in January, all January contracts are near month contracts, February and March contracts are next month and far month contracts respectively.