1, different themes:

50ETF option: it is a trading right with 50ETF (code 5 10050) as the subject matter, and the buyer of the option obtains the option after buying the right. You can exercise the right to buy or sell the underlying assets within the agreed time limit, or you can give up exercising the right; When the buyer chooses to exercise his rights, the seller must perform the contract.

Futures: the subject matter of the transaction is a standard futures contract; Futures are mainly not commodities, but standardized tradable contracts with cotton, soybeans, oil and other popular products and financial assets such as stocks and bonds as the target. Therefore, the subject matter can be commodities (such as gold, crude oil and agricultural products) or financial instruments.

2. Rights and obligations:

50ETF option: the option is a one-way contract. Does the buyer of the option perform or not perform after paying the royalty? The right to buy and sell option contracts, but no obligation.

Futures: Futures contracts are two-way contracts, and both parties to the transaction are obliged to deliver the futures contracts at maturity. If you are unwilling to actually deliver, you must hedge within the validity period.

3. Margin:

50ETF option: In the option transaction, the biggest risk of the buyer is limited to the paid royalty, so there is no need to pay the performance bond. However, the option seller faces great risks and must pay a deposit as a performance guarantee. In our actual operation, it is mostly as a buyer, and the seller is more in the organization.

Futures: In futures trading, both buyers and sellers of futures contracts have to pay a certain percentage of margin.

4. Profit and loss and risk:

50ETF option: 50ETF option is a product with asymmetric risk and return. As a buyer, its biggest risk loss is the premium of the option contract, and theoretically the income is infinite; As a seller, the biggest gain is royalties, and theoretically the loss is infinite. Therefore, individual investors are basically not recommended to be sellers.

Futures: Both parties are faced with unlimited profits and endless losses.

5. Deal:

50ETF option: T+0 trading mode, which can trade in two directions, buy up and buy down, and will not be forced to close positions, explode positions or add principal during the contract period.

Futures: T+0 trading, or two-way buying and selling. Futures trading is prone to short positions, which will be forced to close positions and require additional margin.

6. Contract quantity:

50ETF options: There are not only monthly differences in option contracts, but also differences in exercise prices, call options and put options. With the fluctuation of the subject matter price, more option contracts have new exercise prices.

Futures: in futures trading, futures contracts are only different in delivery months, and the quantity is fixed and limited.

7. Profit model:

50ETF options: In options trading, there are two ways for investors to make profits, one is the spread profit brought by the increase of option contract price, and the other is the profit margin of exercise price on the exercise date.

Futures: In futures trading, investors can close their positions or make physical delivery to settle futures trading, so as to obtain the spread profit.