FA-61592 / Options payoff and settlement / Member archive

Listed option expiration date calendar: the first Friday offset can be negative · case 02

In months starting on a Saturday or Sunday the expiry lands a week early.

Member previewVariant 2 · 3 implementations · 8 checks per implementation

Case contract

Inputs year, month, kind and holidays. Monthly expiry is the third Friday of the month; quarterly expiry is the last calendar day of the quarter-end month (Mar/Jun/Sep/Dec) containing the month. Either date rolls back to the preceding business day (weekday not in holidays) when it is not a business day. Return [y,m,d].

Why this case matters

Option expiry, exercise and settlement engines move cash and shares; a wrong branch misstates obligations.

One recorded failure

Sample boundary fixture

This sample comes from the broken implementation of a controlled reproducer.

Boundary fixture	Actual	Expected	Outcome
regression first friday offset 1	`[2023, 7, 14]`	`[2023, 7, 21]`	Failed

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