Back months

Back months

In the context of futures and options trading, refers to the months of contracts with expiration dates farthest away. See farthest month.

Back Month

Among several different futures contracts, the one with the longest maturity. For example, given three futures contracts, one expiring in March, one in June, and one in September, the back month is the one expiring in September.

Furthest Month

Among several different futures contracts or options, describing the one with the longest maturity. For example, given three futures contracts, one expiring in March, one in June, and one in September, the furthest month futures contract is the one expiring in September.
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References in periodicals archive ?
With last week's US gas in storage down slightly from last year and the five year average, natural gas futures contract prices broke out of their backwardation pattern, as prices above and below the nearby and cash delivery price are seen in the back months in an undulating pattern.
This rearrangement could presage the beginning of a contango pattern setting in, where the back months, calculating insurance and storage costs are otherwise higher than the front months and cash prices.
The whole purpose behind archiving is to be able to go back months and even years later to retrieve data.