What is IBKR's policy regarding physical delivery for future options?

Options on futures will be allowed to expire into futures (or, if out-of-the-money, expire worthless), if the future options expiration date is prior to the underlying future's First Position Day. If there is a resulting futures position, it will then be subject to the respective Close-Out Deadlines, as detailed on the Futures Close-Out Policy page of the IBKR website.

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