Supplement:

Options are agreed prices, but futures are not.

The question is, how do you know what the spot market price is before the maturity date? The purpose of futures is price discovery. You can know what the future price will be like through the futures price, because futures are divided into time periods, such as 3 months and 6 months, which means that the futures price represents what the spot price will be like after 3 months or 6 months. Investors will choose specific trading varieties according to their own situation.

Risk aversion refers to the hedging function. For example, I want to sell a commodity for three months, but I am worried that the price will fall and I will lose money, so I will buy a three-month put contract for the commodity in the futures market. If commodity prices rise, I will make a profit in the spot market and lose money in the futures market (cash settlement is also acceptable without buying delivery). On the contrary, I will lose in the spot market, but futures.