Before a futures contract expires, you have the option to close your position, roll the position (close the existing position, or open an identical position with a later expiration), or if cash settled, hold the position until cash settlement.

If the product is physically settled, you’ll need to close the position prior to the last day to trade (LDTT).

If you want to close your position before it expires, you can do so by placing an offsetting order. This means you would simply take the opposite action of the current position you hold to close it out.

For example, if you initially bought a contract, you would sell the same contract to close it, and if you initially sold a contract, you would buy the same contract to close it. The difference between the opening and closing prices of your trades will determine your gross realised profit or loss.

For details on placing an order, check out Futures orders.

If you're satisfied with your current futures position, but your contract is nearing expiration, you have the option to roll your position.

Rolling involves closing your existing contract and opening a new one with the same underlying product, direction (long/short), and quantity, but with a contract with a later expiration date.

Currently, Robinhood doesn’t support rolling a contract in a single order. You can manually roll the contract by placing a closing order on the existing contract, and opening a new position in a contract with a later expiration date.

If you choose to hold a cash settled contract until expiration, your profit or loss will be realized once the position has gone through final cash settlement, based on the final settlement price. This is determined by the exchange. Once final settlement is complete, you can view the net credit or debit in your account history.

Robinhood doesn’t support the physical delivery of futures products. If you hold a physically settled product, it will need to be closed out prior to the last day to trade (LDTT). If you don’t close your position prior to the last day to trade, Robinhood Derivatives may close the position at any time thereafter. For more details, check out Futures contract expiration.

Futures trading is offered through Robinhood U.K. Ltd. and Robinhood Derivatives, LLC, a US registered futures commission merchant with the Commodity Futures Trading Commission (‘CFTC’) and a member of the National Futures Association (‘NFA’) (NFA ID 0424278).

Futures are complex products with a high risk of losing money rapidly due to leverage. They’re not suitable for all investors. Before you invest, you should make sure you understand how futures work, what the risks are of trading futures and whether you can afford to lose more than your original investment. Please review the Futures Risk Disclosure Statement prior to engaging in futures trading.

Futures contracts and cash in futures accounts that you deposit with Robinhood Derivatives, LLC to margin futures contracts traded on the CME are held in a customer segregated funds account pursuant to regulatory requirements. Futures accounts are not protected by the Securities Investor Protection Corporation (‘SIPC’) or the UK's Financial Services Compensation Scheme (‘FSCS’).

Robinhood U.K. Ltd and Robinhood Derivatives, LLC are subsidiaries of Robinhood Markets, Inc.

Robinhood Derivatives, LLC retains the right to cancel orders and liquidate your positions at any time, without prior notice. Review see the Futures Client Agreement for more details.