1. The rights and obligations of the buyer and the seller are different. The rights and obligations of both parties in futures trading are the same, and they both bear the possibility of loss and enjoy the possibility of profit. The buyer of the option only enjoys the right, but has no obligation, and his obligation has ended when he pays the royalty when he buys the option. The seller of the option only bears the obligation, and after he receives the royalty, he only has the obligation.

2. The margin requirements are different. Both buyers and sellers of futures have to pay a deposit; For options, only the seller needs to pay the deposit, and the buyer only needs to pay the royalty.

3. The content of the transaction is different. Futures trading is to pay something in kind or securities in the future. Option trading is the right to buy and sell a commodity at a specific price in the future. Futures trading must be delivered at maturity, while options can be delivered without delivery, and they can be abandoned and invalidated at maturity.

4. Risks and benefits are different. The risks and benefits of both parties in futures trading are unlimited. The biggest loss of the option buyer is the royalty, and the profit is unlimited. The biggest profit of the option seller is the royalty, but the risk is infinite.

Futures are mainly not commodities, but standardized tradable contracts with cotton, soybeans, oil and other bulk products and financial assets such as stocks and bonds as the targets. Therefore, the subject matter can be commodities (such as gold, crude oil and agricultural products) or financial instruments.

The delivery date of futures can be one week later, one month later, three months later or even one year later.

A contract or agreement to buy or sell futures is called a futures contract.

Option, also known as option, is a derivative financial instrument. It refers to the right to buy and sell in a certain period of time in the future. It means that the buyer has the right to buy and sell a certain number of specific objects to the seller at a predetermined price (referring to the strike price) in a certain period of time (referring to American options) or a certain date (referring to European options) in the future, but has no obligation to buy and sell.

The essence of option is to price the rights in the financial field, so that the transferee can exercise his right to trade or not within a specified time, and the obligor must perform it.

In the transaction of options, the party who buys options is called the buyer, and the party who sells options is called the seller. The buyer is the transferee of the right, and the seller is the obligor who must fulfill the buyer's right.