MJSD
March, June, September, December: the four months when futures and options contracts typically expire.
MJSD is March, June, September and December, the quarterly months when most futures and options expire. Roll periods bring predictable activity and volatility.
MJSD refers to March, June, September, and December, the quarterly months in which most standardised futures and options contracts reach their expiration dates. These quarterly cycles create predictable periods of increased trading activity and volatility as traders roll positions from expiring contracts into the next quarter.
How It Works
- Most exchange-traded futures and options follow quarterly MJSD expiration cycles
- Traders either close positions, exercise options, or roll into the next quarterly contract before expiry
- Rolling creates temporary surges in volume that can distort prices in the expiring contract
- Triple witching occurs on the third Friday of each MJSD month when stock options, index options, and index futures all expire
Trading Tips
Mark MJSD expiration dates on your calendar. Volatility and volume spike in the days leading up to expiry.
Spreads can widen and slippage can increase during the final hours before expiration
Even if you trade spot forex, MJSD expirations matter because institutional hedging flows spill into spot markets
MJSD Example
Say crude futures show H, M, U, Z month codes and your broker lists March, June, September, December expiries with the fattest volume. Those MJSD months are where institutions roll, so spreads stay tightest there.
How Traders Use MJSD
Trade front MJSD contracts for liquidity and roll before first-notice weeks. Far-dated odd months cost more in spread than they save in planning.
Related Terms
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