1, different transaction objects. The object of futures trading is standardized contracts; The trading object of options is rights. Through the transaction, the buyer obtains the right to buy and sell the subject matter of the contract at the agreed price, which is a kind of buying and selling right.

2. Asymmetric rights and obligations. Futures are used to hedge the risk of price fluctuation, which is a two-way transaction. Futures can buy and sell contracts according to regulations before maturity, but the delivery obligation must be fulfilled on the maturity date. Options are different, and the trading of options is one-way. After paying a certain premium to buy a call option or a put option, the buyer of the option has the obligation to decide whether to unilaterally perform the trading contract. The seller of the option contract sells the contract, which is equivalent to giving the buyer the right to deliver or not.

3. The deposit system is different. In the futures market, both parties need to pay 5% to 15% as required, while in the options market, only the seller needs to pay the deposit.

4. The profit and loss characteristics are different. The profit and loss of futures are symmetric and linear, and options are asymmetric and nonlinear. Both sides of futures trading face the possibility of unlimited profit and unlimited loss. In the option market, the profit and loss are different, and the buyer of the option has limited losses (royalties) and unlimited profits; On the other hand, option sellers have limited profits and unlimited losses.

5. Different settlement methods. There are two kinds of futures settlement methods, hedging liquidation and physical delivery; Options are divided into hedging, exercise and waiver of rights at maturity.