How come crude oil options and futures have different monthly expiry date ?
This is primarily done through the concept called Devolvement to adjust the margin variation that exists between Options and Futures.
Check out our Varsity post for a simple yet detailed explanation on this topic -
Here it says the ITM contract will devolve into a futures contract at expiry, is there anyway to avoid that situation, and how to give “instruction” mentioned in the article.
This is interesting. So, does this mean that the expiry will remain within atm±2 strikes until the expiry day ?