farther in

Nearby Month

Among several different futures contracts or options, describing the one with the shortest maturity. For example, given three futures contracts, one expiring in March, one in June, and one in September, the nearby month contract is the one expiring in March. It is also called the spot month. See also: Most distant futures contract.

farther in

Of or relating to an option contract with an earlier expiration date than a contract that is currently owned or being considered.