Interactive brokers says (on the phone): odd month options on emini convert to a front month futures contracts at expiration. front month options contracts "convert to cash" at expiration. Here is my question: Say I want to buy a feb or mar 1000 put on emini (obviously out of the money). I am perfectly happy if it expires worthless...but why would I buy an option that could actually expire "less than worhless"? Should I anticipate this possibility? On another forum, a trader suggests this may be just for In The Money options. That would make sense, but I am hoping someone can confirm all of this with experience.