Definition
Every futures contract has a last trading day. Before it, traders who want to stay in move to the next contract, called rolling.
The story
It's like a lease that ends on a set date. If you want to stay, you sign the next one before the old one runs out. In the days before expiration, lots of traders move at once.
Why markets watch it
Roll periods can bring unusual volume.
Connects to
We explain why it moves markets. What you do with it is your call. Commentary and education only. Not financial advice. All terms