Well if they are deep in the money there is really not much difference between options and futures. So I would just treat them the same as futures positions.

I frequently trade options just for an increase in volatility...these can be way-out-of-the-money and still be very profitable. If you get out quickly on a jump in volatility. For instance back in early August 2015 I bought 2 Oct. S&P 1800 puts for around $225 apiece. The morning of the crash I witnessed them trade near $5,000 apiece. (about 7-8 trading days after I bought them.) I ended up selling them for half that a couple hours later realizing the market could completely recover (it did eventually of course) but they were never in the money. This is a radical and rare example.
But I do like buying low volatility when you expect a rise in volatility and cashing in on the premium during this rise, but timing is more critical of course when you do this.

Good luck with your trades!

:-)#