Differences.
The purchaser of a futures contract is obligated to buy the underlying asset at the specified price (and the seller of a futures contract is obligated to sell).
The owner of a call option is not obligated to buy unless he wishes to do so; he has the right, but not the obligation.
The buyer of an option has a limited downside, but the buyer of a futures contract doesn't.
Similarities.
Options and futures contracts also share some common features. Both have standardised features that allow them to be traded quickly and "cheaply" on organized exchanges.
Ref: Make Your Money work for you, by Keon Chee & Ben Fok
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