期权是一种选择权，就是一种能在未来某特定时间以特定价格买入或卖出一定数量的特定商品的权利，期货指的是一种远期的货物合同。两者同为合约交易，那么二者之间的区别有哪些？
The option is a right to buy or sell a certain number of specific goods at a particular price at a particular time in the future. Futures refer to a contract for forward goods. What is the difference between the two?
期权与期货之间的区别
The difference between options and futures
1、权利和义务是不同的。期权买卖双方的权利和义务不平等，而期货买卖双方的权利和义务是平等的。期货买卖双方均承担履约义务，必须在到期日交割；而期权只有卖方承担履行义务，买方只享有权利而不承担义务。通过买卖期权，投资者可以分离权利和义务，以实现灵活投资和风险管理的目的。
The rights and obligations are different. The rights and obligations of the parties to the futures are unequal, while the rights and obligations of the parties to the futures are equal.
2、风险收益特征不同。期权与期货的风险收益特征不同，期权收益率与标的资产收益率是非线性的，两者之间不存在固定的比例关系；期货收益与标的资产收益之间存在固定的比例关系。
There is no fixed proportional relationship between the options and the proceeds of the assets to which they relate. Unlike the risk-benefit characteristics of futures, there is no fixed proportionate relationship between the options and the assets to which they relate, and there is a fixed proportionate relationship between futures and the assets to which they relate.
3、保证金制度不同。期权与期货的保证金制度不同。期权和期货的保证金制度是不同的。在期权交易中，卖方承担义务，需要支付保证金作为履约保证金。买方只有权利，因此无需支付押金；期货买卖双方都承担履约义务，因此双方都需要支付定金。
In a futures transaction, the seller is obligated to pay the bond as a performance bond. The buyer has only the right, so the deposit is not required to be paid; both parties to the futures deal have the obligation to perform and both parties are therefore required to pay the down payment.
4、合约数量不同。期权合同比期货合同多得多。期权在每个合同月有多个不同行使价格的看涨期权和看跌期权合同；而期货在每个合同月只有一个合同。
4. The number of contracts varies. The options contract is much larger than the futures contract.
5、了结方式不同。期货的了结方式有两种，分为对冲平仓和实物交割；期权分为对冲、行使权力和到期放弃权利三种。
There are two types of closure for futures, which are divided into stubble and physical delivery; options are divided into hedges, exercise of powers and waivers due to maturity.
期权交易与期货交易的相同点
1、交易对象都是标准化合约。
1. Targets are standardized contracts.
2、都是在期货交易所公开竞价买卖。
2. All are publicly competitive on futures exchanges.
3、交易达成后都必须通过交易所统一结算。
3. Once a transaction is concluded, it must be settled uniformly through an exchange.
4、都具有杠杆效应。
4. All have leverage.
期货合同的特点
Features of futures contracts
1、期货合同的商品品种、交易单位、合同月份、保证金、数量、质量、等级、交割时间、交割地点等条款已建立并规范，唯一的变量是价格。期货合同的标准通常由期货交易所设计，并经国家监管部门批准后上市。
The only variables are price. The standards for futures contracts are usually designed by futures exchanges and listed after approval by the national regulatory authority.
2、期货合同由期货交易所组织订立，具有法律效力，价格在交易所交易大厅公开竞价产生。大多数外国使用公开招标，而中国使用计算机交易。
2. Futures contracts are concluded by a futures exchange organization and have the force of law. Prices are publicly competitive in the trading hall of the exchange.
3、期货合同的履行由交易所担保，不得私下交易。
3. The performance of futures contracts is guaranteed by an exchange and cannot be traded in private.
4、期货合同可以通过现货交割或者套期保值交易履行或者解除合同义务。
4. A futures contract may be performed or discharged by a spot delivery or hedging transaction.
期权交易的特点
Features of options transactions
1、独特的损益结构。与股票、期货等投资工具相比，期权的区别在于其非线性的损益结构。正是由于期权的非线性损益结构，使得期权在风险管理和证券投资中具有明显的优势。通过组合不同的期权、期权和其他投资工具，投资者可以构建具有不同风险和回报条件的投资组合。
1 A unique profit/loss structure. The difference between options compared to investment instruments such as equities and futures is their non-linear profit/loss structure. It is precisely the non-linear profit/loss structure of options that gives options a clear advantage in risk management and portfolio investment.
2、在期权交易中，买卖双方的权利和义务不同，这使得买卖双方面临不同的风险情况。对于期权交易者来说，买方和卖方都面临着溢价不利变化的风险。
In options transactions, the rights and obligations of the buyer and the buyer differ, exposing the buyer and buyer to different risks. For options traders, both buyers and sellers face the risk of adverse price changes.
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