A process for removing cyclopentene from the C5 fraction of a light olefin feed useful in an isoparaffin/olefin alkylation process redistributes fragments of C5 olefins formed by ring opening metathesis (ROM) in the presence of a catalyst. The higher molecular weight olefins produced in the reaction can be blended into the gasoline blend pool without imposing a significant or any vapor pressure penalty. Cyclopentene present in the C5 portion of the feed undergoes various ring opening reactions while other pentenes are converted to hydrocarbon products of lower and higher molecular weight relative to pentene. The reduction in cyclopentene results in a reduced tendency for the formation of acid soluble oil (ASO) during alkylation.