Crudeoil Contracts Expiry date difference

I see Crudeoil Future May contract has expiry date 20/5/19. But for Crudeoil options. the expiry date is 16/5/19. Why different expiry dates for the same underlying. Any thoughts - @siva, @nithin

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For all MCX contracts, options will expire few days earlier to futures, the reason behind is for ex: consider this case, currently if options are expired ITM it will devolve into futures so if expiry is same for futures and options then after option expiry it can’t devolve into next expiry future contract as option is based on current expiry it should devolve into current future contract. Hence generally options will expire before first tender date of future contract. Check for more here.

Thanks @siva for the details. With zerodha how the user can give instructions for devolvement of options

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If you have enough money for devolvement then you can create a ticket here.

Thanks @siva. Just now I checked this -

If we have ITM options, then we have to raise a devlovement request. As I am holding ATM only, hope I dont have to raise the request. Correct?

Also if I have ITM options & didn’t raise request for devolvement, what will happen to that option. Will it be cash settled.

If you have cash and it expires in ITM then it may devolve to future, if not position will be closed. Anyhow write to support for more specific answers.

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Thank you