Dear, the difficult part of financial engineering is not the concept of these options and futures, but their pricing.

To put it bluntly, futures means that both parties agree on a price for delivery in the future. The original purpose is to avoid risks. For example, in order to avoid rising costs caused by future increases in crude oil prices, an airline can purchase long crude oil futures or crude oil call options. In this way, futures and options will be profitable when oil prices rise, offsetting part of the costs.

There are indeed many types of derivatives such as futures, options, and swaps, especially options. There are many complex and exotic options, but the key is to understand their core and never leave the essence. Options are rights, and branches just add some special circumstances and restrictions to these rights.

To learn derivatives, we recommend classic foreign textbooks, including "Options, Futures and Other Derivatives" by John Hull. This book is called the introductory Bible of financial engineering.