This post serves as a reference document for important dates for the United States Oil Fund (NYSEARCA:USO) and the United States Natural Gas Fund (NYSEARCA:UNG) ETFs. Sources for the images below are the USO and UNG funds, cmegroup.com for the futures market information.
USO and Crude Oil Futures
USO holds front-month futures contracts for crude oil (and significant cash as collateral) as the basis of its value. These futures contracts must be rolled forward each month. This rolling forward is the basis for a long-term hold time decay. USO roll dates for 2017 are listed below.
NYMEX West Texas Intermediate ("WTI) crude oil futures contracts expire according to the following schedule. There is often volatility associated with these expirations.
The WTI futures options trading period ends 3 days prior to the expiration of the underlying futures contract.
UNG and Natural Gas Futures
Similar to USO, the UNG holds front month futures contracts which must be rolled over each month. For 2017, the UNG roll dates are:
NYMEX Natural gas futures contracts expire according to the following schedule. There is often volatility associated with end-of-month positioning.
The NYMEX natural gas futures options contracts close the day before the expiration of the futures contracts
Disclosure: I am/we are long USO.