The last trading days of futures and options are generally inconsistent. Take a commodity futures option as an example. The last trading day of the option is the cut-off point at which the buyer or seller of the option can put the option contract into the market for liquid trading. What does this have to do with the last trading day of futures? The last exercise date of the option should be considered here. In many cases, the last exercise date of the option is the same as the last trading day of the option, that is to say, before the last exercise date, the buyer of the option can ask to exercise his right to buy or sell futures, then the option will be converted into futures at this time. In order to give investors time to deal with future positions after being converted into futures, the futures at that time will definitely not reach the last trading day.

Commodity futures have the possibility of delivery and the concept of final delivery date, while options only have the concept of exercise and no concept of final delivery date.