Futures and options are derivatives of financial markets, which are developed on the basis of basic financial targets. There are some similarities and many differences between the two, and investors interested in financial derivatives should carefully distinguish them. What is the main difference between financial futures and financial options? The theme of 1 is different. Simply put, the subject matter of financial futures can be the subject matter of financial options, and vice versa. In other words, the subject matter of financial futures cannot be options, but the subject matter of financial options can be futures. The rights and obligations of investors are different, and both buyers and sellers of financial futures should exercise their rights and obligations according to the contract. The buyer of the option has only power but no obligation, and the seller has only obligation but no right. 3 The performance guarantees are different, and both buyers and sellers of financial futures must open margin accounts and pay the margin. In financial futures, only the seller needs to pay the deposit in accordance with the regulations, so as to ensure that he can perform the contract as agreed. 4 The cash flows of the two are different. The relationship between buyers and sellers of financial futures is not cash delivery, but daily settlement, and the balance of the profit-making account will increase and the balance of the loss-making account will decrease. When the option contracts is concluded, the buyer must pay the option fee to the seller, and then no cash fee will be incurred before the performance period. The profit and loss characteristics of the two companies are different. The profit and loss of both sides of financial futures depends on the range of price changes, and neither party has the right to breach the contract or demand early or late delivery. Whether the option contract is executed depends on the buyer's wishes, and the buyer can control his own losses to a considerable extent. The two have different effects in hedging. In this respect, financial futures are usually more effective and cheaper than financial options. Financial options and financial futures have their own advantages and disadvantages. More often, investors will combine them to meet their specific needs, which is also the advantage of them as financial derivatives. They are far more flexible than financial basic products.