Though the settlement happens at spot, options move with futures. Otherwise arbitrage opportunity kicks in.
But since futures are of monthly expiry and options weekly, there can still by some mismatch.
True. Institutional trading floors also treat futures as the underlying. For positional trend following however we need to look in to this from a different angle. There is some debate over the lead lag relationship between spot and futures for price discovery. Some say that spot leads futures and some say futures lead spot prices. Also futures being a directly traded instrument is succeptible to noise relative to spot. So while for momentum trading or other option selling strategies tracking futures help my weight is on spot for trend following.
Weekly contracts track synthetic future prices since there are no weekly future contracts.