Options on futures, for example NYMEX CL Jun 13 contract has bunch American options expiring in Jun, Aug, Sep and so on... Whats the purpose of these (beyond Jun)? From a trader prospective?
Not as far as i know. Options on CL track the underlying CL futures contract. Since CL has a new futures contract every month, the options each have their own underlying futures contract as well. No such thing of a multiple CL options expiries tracking the same futures month. Since the futures contract is dead and gone you can't buy an option that delivers something that no longer exists.
yeah my fault. I looked at the CME quotes page and it has multiple expiration in the dropdown list..... I just missed that underlying was too changing with the expiration change.... makes sense