A call is option that gives the buyer the right, but not the obligation, to purchase the underlying futures contract at the strike price on or before the expiration date.

看涨期权赋予买方以权利，但不必负有义务，在期权到期日当天或到期之前，按敲定价格买进相关期货合约。

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A put is an option that gives the buyer the right, but not the obligation, to sell the underlying futures contract at the strike price on or before the expiration date.

看跌期权赋予买方以权利，但不必负有义务，在期权到期日当天或者到期之前，按照敲定的价格卖出相关期货合约。

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An option on a futures contract is the right, but not the obligation, to buy or sell the underlying security at a particular price within a specific time.

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