Differences can be roughly divided into six types: 1. The basic assets are different. Generally, instruments that can be used for futures trading can be used for options trading, but financial instruments that can be used for options trading may not be used for futures trading. 2. The symmetry of the rights and obligations of traders is different, and the rights and obligations of both parties in futures trading are symmetrical, that is, each party has the right to ask the other party to perform and has its own obligations to perform. However, the rights and obligations of both parties to the option transaction are obviously asymmetric, and the buyer of the option does not need to open a margin account or pay a margin. 3. The cash flow is different. There is no cash receipt and payment relationship between the two parties in futures trading, but after trading, cash flow will occur between them due to price changes. Therefore, both sides of futures trading must maintain certain highly liquid assets. For options, when trading, the option buyer must pay a certain option fee to the option seller in order to obtain the rights conferred by the option, but after the transaction is completed, there will be no cash flow except for the performing party. 4. For different performance bonds, both futures parties need to open a deposit account and pay the performance bond as required. In option trading, only option sellers, especially unsecured sellers, need to open a margin account and pay the margin to ensure their obligations. As for the buyer of options, there is no need to open a margin account or pay a margin. 5. Futures trading parties have different profit and loss characteristics, and they have no right to breach the contract, nor have the right to require early delivery and delayed delivery. They can only hedge through reverse trading at any time before maturity or make physical delivery at maturity. So in theory, the potential profit and loss of both sides of futures trading is infinite. In option trading, due to the asymmetry of rights and obligations of buyers and sellers, their profits and losses in the transaction are also asymmetric. Theoretically speaking, the potential loss of the option buyer in the transaction is limited, limited to the option fee he pays, but the profit he may get is unlimited; On the contrary, the profit of the option seller in the transaction is limited, only the option fee he gets, but the possible loss is infinite. 6. Hedging has different effects. People use futures to hedge. While avoiding the losses caused by price changes, they must also give up the benefits that may be obtained from favorable price changes. In option hedging, if the price changes unfavorably, the hedger can avoid the loss by executing the option, and if the price changes favorably, the hedger can protect his own interests by giving up the option, so that the option can not only avoid the loss caused by the unfavorable price change, but also retain the income brought by the favorable price change.