Natural gas expiry refers to the specific date when the futures or options contract between the buyer and seller (at a specific price) for the commodity expires. Here is a guide to the same below.
The expiry of natural gas futures and options contracts refers to the particular date when these agreements between buyers and sellers (at predetermined prices) expire. Natural gas futures contracts expire three business days before the first calendar day of the delivery month. Traders may enter or exit their positions any time before one day prior to the date of expiry in the physically delivered contract.
Natural gas options contracts are agreements giving buyers the right, minus the obligation, to buy or sell a particular quantity of the commodity at a predetermined price on or before the expiration date. They are derivatives, i.e. instruments whose value derives from the underlying natural gas market. The options expiry indicates the date when the contract is no longer valid and cannot be traded anymore.
On this date, any outstanding ITM or in-the-money options contracts are settled, usually through devolving into an equivalent futures contract. If the option is not closed before expiry, it may necessitate the physical delivery of natural gas, which is impractical for a large number of traders. In this context, there is the choice of a rollover in commodity contracts. Traders may use this route to roll over positions by closing their current contracts and opening new ones with later dates of expiry.
Here is the list of the MCX natural gas futures expiry for 2025 (1,250 MMBtu) -
Contract Month |
Contract Launch Date |
Contract Expiry Date |
January 2025 |
29 July 2024 |
28 January 2025 |
February 2025 |
28 August 2024 |
25 February 2025 |
March 2025 |
26 September 2024 |
26 March 2025 |
April 2025 |
29 October 2024 |
25 April 2025 |
May 2025 |
26 November 2024 |
27 May 2025 |
June 2025 |
27 December 2024 |
25 June 2025 |
July 2025 |
29 January 2025 |
28 July 2025 |
August 2025 |
26 February 2025 |
26 August 2025 |
September 2025 |
27 March 2025 |
25 September 2025 |
October 2025 |
28 April 2025 |
28 October 2025 |
November 2025 |
28 May 2025 |
24 November 2025 |
December 2025 |
26 June 2025 |
26 December 2025 |
Here is the list of the MCX natural gas options expiry for 2025 -
Contract Month |
Launch Month |
Expiry Month |
January 2025 |
October 2024 |
January 2025 |
February 2025 |
November 2024 |
February 2025 |
March 2025 |
December 2024 |
March 2025 |
April 2025 |
January 2025 |
April 2025 |
May 2025 |
February 2025 |
May 2025 |
June 2025 |
March 2025 |
June 2025 |
July 2025 |
April 2025 |
July 2025 |
August 2025 |
May 2025 |
August 2025 |
September 2025 |
June 2025 |
September 2025 |
October 2025 |
July 2025 |
October 2025 |
November 2025 |
August 2025 |
November 2025 |
December 2025 |
September 2025 |
December 2025 |
Several factors influence natural gas prices at expiry. These include: