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

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

If you wish 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 realized 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’ll see the net credit or debit in your account.

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, options on futures and cleared swaps trading involves significant risk and is not appropriate for everyone. Please carefully consider if it's appropriate for you in light of your personal financial circumstances.

Please read the Futures Risk Disclosure Statement prior to trading futures products, and please read the Event Contract Risk Disclosure for more information about the risks associated with forecast event contracts.

RHD accounts are not protected by the Securities Investor Protection Corporation (SIPC) and are not Federal Deposit Insurance Corporation (FDIC) insured. RHD is not a bank. Prior to trading virtual currency Futures products, please review the NFA Investor Advisory & CFTC Advisory providing more information on these potentially significant risks.

Futures, options on futures and cleared swaps trading is offered by Robinhood Derivatives, LLC, a registered futures commission merchant with the Commodity Futures Trading Commission (CFTC) and Member of National Futures Association (NFA).