How to Quickly Retrieve the Next Option Expiration Date with MarketXLS

The ExpirationNext function gives you direct access to upcoming option expiration dates for a specified symbol right inside Excel. By specifying how many expirations ahead you want to look (using a simple index), you can quickly plan or adjust your options strategies. Whether you are managing short-term trades or planning hedges, ExpirationNext seamlessly integrates with MarketXLS to ensure you always have the latest expiration information at your fingertips.

Why Use This Function?

• Stay Ahead of Expirations: Instantly know when your option positions are set to expire.
• Simplify Complex Queries: You no longer need to sort through large option chains; this function pinpoints the future date you need.
• Combine with Other Data: Use expiration dates together with Greeks, volume, or implied volatility to refine your trading strategy.
• Adapt to Various Markets: Whether tracking broad-market ETFs like SPY or index options like ^SPX, this function finds relevant upcoming expiration dates.

How to Use in Excel

=ExpirationNext(Symbol, NumberOfExpiration)

1. In a cell, type “=ExpirationNext(”
2. Provide the Symbol (e.g., "SPY") as the first argument.
3. Provide the NumberOfExpiration as the second argument, indicating how many expirations ahead you want. (If left blank, it defaults to 0 — the earliest future expiration date.)
4. Press Enter to immediately retrieve the expiration date.

The function automatically calls MarketXLS backend APIs, returning live or cached data based on your subscription and licensing.

Parameters Explained

• If you provide a negative (e.g., -1), the underlying code may attempt to retrieve past positions in the expiration array, which can fail or return “NA” because the function filters out all expired dates.
• Values must be integers; any invalid entry results in “NA”.

Example Usage

Basic Examples

1. =ExpirationNext("SPY", 0)
   • Returns the earliest upcoming expiration date for the SPY symbol.
   • Example result might be “2023-10-20” (formatted as yyyy-mm-dd).

2. =ExpirationNext("AAPL", 1)
   • Retrieves the second-nearest future expiration date for Apple’s options.
   • This is useful for stepping out one more expiration cycle beyond the most immediate date.

3. =ExpirationNext("^VIX", "")
   • If NumberOfExpiration is left blank, it defaults to "0," so you get the closest future VIX expiration.
   • Perfect for tracking your volatility strategies.

Advanced Scenarios

1. Multiple Expirations for a Strategy
   • If you’re planning a diagonal or calendar spread over two upcoming expirations, you can set:

   • Cell A1: =ExpirationNext("SPY", 0) ? returns the first expiration date.
   • Cell A2: =ExpirationNext("SPY", 1) ? returns the second expiration date.
     • Combine these returned dates in option-pricing formulas or synergy with MarketXLS Greeks.

2. Automated Expiration Tracking
   • Create a watchlist of symbols (e.g., AAPL, NFLX, SPY) in Excel rows.
   • In a separate column, reference ExpirationNext with increasing NumberOfExpiration values.
   • Generate a quick overview of upcoming expiration cycles across your entire portfolio.

3. Edge Cases: Invalid or Exotic Symbols
   • =ExpirationNext("FAKE123", 0) ? returns “NA” if the ticker is not recognized.
   • =ExpirationNext(".INVALID", 0) ? will also return “NA.”
   • Ideal for error-checking in your models or watchlists.

Common Questions and Troubleshooting

1. “Why am I getting NA?”

   • Ensure your symbol is correct and the spelling is valid in your MarketXLS subscription.
   • The NumberOfExpiration value might be too large for any available data or out of range.
   • Check if your MarketXLS license is active; an invalid license also returns “NA.”

2. “Can I see past expirations?”

   • No. The function filters out expired dates and focuses only on future dates. A negative offset often leads to “NA.”

3. “What if the function shows ‘Refreshing’?”

   • MarketXLS might be updating or caching the data. Wait for the data to refresh or recalculate your spreadsheet.

Remember:

• Make sure you have a valid MarketXLS license to retrieve live or cached data.
• Always double-check your symbol and parameter values if you encounter an unexpected “NA.”
• Integrate ExpirationNext with other MarketXLS functions (like implied volatility or option Greeks) for more advanced trading strategies.

By mastering the ExpirationNext function, you can streamline your options analysis, stay ahead of critical dates, and effectively plan trades without manually sifting through large option chains. It’s a powerful tool to ensure you have the right information at just the right time.