Topics This Week Include: Crude Rates Equities Metals Ags Crypto Futures Options Feedback: Listener questions and comments Question from Cambel: Oh no! Did the millennials kill cheese? Are they coming for fluid milk next? Question from Inlo: Is it only possible to exercise a FOP that has the same month as the underlying future? If I’m long an April CL future do I also need an April put option? Or can I exercise a May CL option on a April CL future? Comment from Olivetrader2: I like the Thursday show, actually. I was supposed to be downtown but I couldn't go. Listening to your show instead. Question from Sam Harris: Question for TWIFO. Hello Nick, Mark and Sean. Fun program. I particularly like the research guests since they usually bring up topics that are new to me. I was talking with a friend recently about exercise and settlement (nerds, I know). He brought up an interesting time frame to exercise an option - when it goes ITM and the spread is simply too wide. Exercise may actually be the cheaper option. Question from Mizander: Why exercise future option early? Doesn't seem make much sense?