Stock index futures, abbreviated as SPIF in English, are full-name stock price index futures, which can also be called stock price index futures and futures index. It refers to the standardized futures contract with the stock price index as the subject matter. Both parties agree that at a future date, they can buy and sell the underlying index according to the size of the stock price index determined in advance, and settle the difference in cash after the expiration.

Stock index option is to judge the rise and fall of stock index futures, and only needs to pay a certain commission. If the judgment is correct, you can sell the right to get the premium income, or you can exercise the right to buy stock index futures to get the price difference income of stock index fluctuation after liquidation. Judge the loss of rights.

2. Different characteristics

Compared with other options, stock index options have the characteristics of low risk (the biggest loss is premium) and high yield (the futures price difference after exercise).

In addition to the general risks of financial derivatives, stock index futures also have some specific risks due to the characteristics of the subject matter itself and the particularity in the contract design process.

3. The deposit system is different.

Futures trading, whether the seller or the seller, needs a certain margin as collateral. In option trading, the option buyer is not bound by the margin system, and the margin is only required for the option seller.

Baidu encyclopedia-stock index options

Baidu encyclopedia-stock index futures