Lets say that I am long December Coffee and I purchase an "September, October, or Novrmber put to proctect myself in case of an adverse price move (to the downside) May I use these months, other than the December put options, as price insurance, or must I purchase the same month for the futures as I do for the options. do different exchanges have rules about this?
Address two scenarious: 1. the option will be exercized to take me out of the futures position and 2. I will just offset the position, selling the put. thanks.