QM futures expiry calendar 2027: 12 dates

Every QM delivery listed in 2027

QM trades 12 delivery months in 2027 (F, G, H, J, K, M, N, Q, U, V, X, Z). Dates are computed from the exchange rule rather than stored. The engine counts Monday to Friday and holds no CME holiday table, so a date next to a public holiday can be one day off the exchange calendar.

The letter in a contract symbol is its delivery month: F = January, G = February, H = March, J = April, K = May, M = June, N = July, Q = August, U = September, V = October, X = November, Z = December. The digit that follows is the year.

The rule that sets these dates

Trading terminates 3 business days prior to the 25th calendar day of the month prior to the contract month. If the 25th is not a business day, trading terminates 3 business days prior to the last business day preceding the 25th.

When the volume moves between these months

Energy contracts expire monthly, so the roll is a routine of every month rather than every quarter. Volume leaves the expiring month several sessions before its last trading day, and the spread between the two months widens as it does.

What one tick of QM is worth

The minimum price fluctuation is 0.025, which is $12.50 per contract on a multiplier of 500. A full point is $500.00. These are the values the app itself trades on, so the rows of a QM footprint and the P&L on a QM position come from the same numbers.