Option is a kind of financial derivative, which gives the holder the right to buy or sell an asset at a fixed price for a certain period of time, but it is not compulsory. Option trading is usually divided into subscription and put. The former means that the holder has the right to buy the underlying assets at the agreed price, while the latter means that the holder has the right to sell the underlying assets at the agreed price. A notable feature of options is limited risk, that is, only a premium is paid when purchasing options, and there will be no huge asset losses due to large fluctuations in the price of the underlying assets.

Stock index futures is a futures contract based on the underlying assets of the stock market, and its price is related to the specified stock index. Stock index futures trading is usually conducted in the form of futures contracts, and buyers and sellers will deliver stock index futures at an agreed price in the future. Unlike the stock market, in the stock index futures market, investors can trade in the expectation of being bearish or bullish. The investment income of stock index futures is closely related to market changes, which is suitable for investors with risk tolerance.

Options and stock index futures are often used for risk management and speculation. In risk management, options and stock index futures can provide investors with tools to protect market volatility and reduce portfolio risk. In terms of speculation, options and stock index futures can provide investors with opportunities for speculative profits and bring high returns. However, options and stock index futures also have certain risks. Investors need to understand the relevant pricing and trading rules and control the risks rationally.