Option is a kind of right certificate, which is standardized by the exchange and becomes an option contract. Options with futures contracts as the subject matter are also called futures options, and commodity options is basically a futures option. The basic characteristics of call options and put options: call options lock in the purchase price and put options lock in the sale price. For example, the subject matter of white sugar option is white sugar futures contract, and the subject matter of cotton option is cotton futures contract. The buyer of a call option has the right to buy the subject matter, and the seller has the obligation to sell the subject matter. For sugar call options, the buyer will get a long position in sugar futures after exercising the right, on the contrary, the seller will get a short position in sugar futures after fulfilling the contract. The buyer of put option has the right to sell the subject matter, and the seller has the obligation to buy the subject matter. For white sugar put option, the buyer will get a short position in white sugar futures after exercising the right, on the contrary, the seller will get a long position in white sugar futures after performing the contract.