Futures contracts cannot be extended when they expire. It is necessary for individuals to close their positions. If it is unfair, it will make the exchange stronger. If a legal person can send it, he will be strong if he doesn't. You need to sell the current period and buy the next period.

Futures contracts are the objects of futures trading. It is through buying and selling futures contracts on futures exchanges that participants in futures trading transfer price risks and get risk returns. Futures contracts are developed on the basis of spot contracts and spot forward contracts, but their most essential difference lies in the standardization of futures contract terms.

Futures contracts traded in the futures market are standardized in the quantity, quality grade, delivery grade, premium standard of substitutes, delivery place and delivery month, which makes futures contracts universal. In the futures contract, only the futures price is the only variable, which is generated by public bidding in the transaction.

The expiration time of futures contracts is the last trading day of futures, which refers to the deadline for futures contracts to stop trading. Every futures contract has a certain month limit. On a certain day in the contract month, the trading of the contract will be stopped and the physical delivery will be prepared.