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A futures (never "future") contract obligates the participants to complete the transaction. An option contract doesn't.

If I bought 5000 to 7000 bushels of wheat a month, I would get one wheat futures contract (5000 bushels) and two mini wheat options (1000 bushels) - preferably one that expires on the 10th and the other on the 20th. I'd have to buy the 5000 bushels, but would only buy the rest if I needed it.

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10y ago

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