This is probably a dumb question. I normally trade the financial e-mini products, but I would like to trade Oil (CL). I notice that the CL options expire 5 days before the futures contract. How can this be? If one wishes to use options to hedge a futures contract, how can this be done for CL? To explain better, this scenario: Long CL Sept 11 at 99.40 Buy CL Sept 11 put at 99 Sell CL Sept 11 call at 100.50 This works fine if the expiration is the same day. How can options be used to protect a futures position if the expiration day of the future and futures options expire on different days? Thanks for the help understanding this!