The exercise date of individual stock options is different, which is stipulated by the option terms. On the exercise day, you can exercise the right to buy shares at a specified price. Futures have no concept of exercise, only due delivery. There is no concept of due delivery in stock index futures, and the contract will be fully closed according to the final profit and loss on the due date.

Individual stock option contract refers to the standardized contract formulated by the exchange, which stipulates that the buyer has the right to buy or sell the agreed underlying securities at a specific price at a certain time in the future. The buyer obtains this right at the cost of paying a certain amount of option fee (also called royalty), but does not undertake the obligation of buying and selling. After receiving a certain amount of option fee, the seller must unconditionally obey the buyer's choice within a certain period of time and fulfill the promise at the time of trading.