According to the rights of the option buyer: According to the rights of the option buyer, options can be divided into call options and put options.

Call option means that the buyer (obligee) of the option has the right to buy a certain number of underlying assets from the seller (obligor) at the agreed price within the agreed time, and the buyer enjoys the option.

Put option means that the buyer (obligee) of the option has the right to sell a certain number of underlying assets to the seller (obligor) of the option at the agreed time and price, and the buyer has the right to sell.

Option classification 2:

According to the time limit for the option buyer to exercise the option, it can be divided into European option and American option.

European option refers to the option that the option buyer can only exercise on the expiration date of the option. American option refers to the option that the option buyer can exercise on the trading day or expiration date before the option expires. American options and European options are divided according to the exercise time.

Option classification 3:

According to the relationship between exercise price and sugar futures market price, it can be divided into real option, equal option and imaginary option.

Real option, also known as in-price option, refers to the state that the exercise price of the call option is lower than the market price of the underlying asset, or the exercise price of the put option is higher than the market price of the underlying asset.

Flat option, also known as flat option, refers to the state that the exercise price of the option is equal to the market price of the underlying asset.

Virtual option, also known as out-of-price option, refers to the state that the exercise price of call option is higher than the market price of the underlying asset, or the exercise price of put option is lower than the market price of the underlying asset.