There are the following differences:

1. Different definitions. Financial futures, the English name is Financial Futures, refers to a binding standardized contract for the purchase and sale of a certain financial instrument by both parties in the financial market at an agreed time and price. A futures contract based on a financial instrument.

Financial option, English financial option, is a contract, which is a financial derivative product based on options. It refers to a contract for options trading with financial products or financial futures contracts as the subject matter.

2. The subject matter is different. In practice, there are only financial futures options but not financial options futures, that is, there are only financial options transactions with financial futures contracts as the subject matter, but there are no financial futures transactions with financial options contracts as the subject matter.

3. The functions are different. People use financial options for hedging. If the price changes adversely, the hedger can avoid losses by executing the option; if the price changes favorably, the hedger can protect interests by giving up the option.

Extended information:

The two have similar functions. Financial options and financial futures have similar functions. In a certain sense, financial options are the continuation and development of the functions of financial futures. They have the same functions of hedging and price discovery as financial futures, and are an effective tool for controlling risks.

Reference materials: Baidu Encyclopedia-Financial Options? Baidu Encyclopedia-Financial Futures