It is not much different from commodity futures, but the subject matter is different.

Option is an option, which can be exercised or not. Can be divided into call options and put options, only need to pay the option fee.

For example, if you hold a long position in stock index futures, you can buy another put option. If the stock index futures you hold go up, don't exercise, but pay the option fee. If futures fall, your stock index futures will lose money, so you can exercise put options to avoid excessive losses.