1, the difference between margin and royalty: in futures trading, both buyers and sellers have to pay the trading margin, but neither party has to pay the other party; In option trading, the buyer pays the royalty but not the deposit, and the seller receives the royalty but pays the deposit;

2. The difference between rights and obligations: the option is a one-way contract, and the bulls of the option get the right to perform or not to perform the contract after paying the premium, without having to bear the obligation; Futures is a two-way contract, and both parties to the transaction are obliged to make delivery when the futures contract expires. If they don't want to actually deliver, they must cancel within the validity period.

3. Different cash flows: In the option transaction, the buyer has to pay the royalties to the seller, which is the price of the option, and the option contract can be circulated, and its price will change with the change of the underlying asset price; In futures trading, both buyers and sellers have to pay a certain percentage of the initial margin of the face value of the futures contract, and during the trading period, they have to collect additional margin from the loss party according to the price change, before the profit can withdraw the excess margin;

4. The difference between the expiration date and the exercise date: The first futures concept that people who do futures will come into contact with when they actually do futures is the "main contract", which is actually the contract with this expiration time that most people do. However, futures will face forced liquidation after expiration, so in fact, most investors will close their positions or switch to the next main contract before the delivery date; The essence of options is options, and options need time. The last day is called exercise day. At present, the domestic OTC options are American options, that is, the buyer can choose to exercise before or after the expiration date. It can be understood that the option buyer can choose to exercise at any time when the market rises or is beneficial to the buyer, and the buyer can give up the exercise when the market falls or is unfavorable to the option buyer.

Tips:

1. The above information is for reference only, and no suggestions are made.

2. There are risks in entering the market, so investment needs to be cautious.

Reply time: 2020- 12-03. Please refer to the latest business changes announced by Ping An Bank in official website.

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