Options on Futures

[wes blake <amerskin@xxxxxxxxxxxxxx>]

Hello,

I was wandering if someone could explain to me what happens in this
situation. If I buy one futures contract on March T-BOND @ 122.00 and
sell a March call option 122.00. Can someone tell me what happens to the
futures contract and the option. Does the option expire at the same time
the futures contract expires, or does the option expire first. 

I want to sell some options on futures and I have done it and never had
to cover it, I have sold before that point, but I'm not so sure what
happens near the end of month with options and futures.

Thanks,

Wes