* options is about future prices. Closely related to futures contracts, futures pricing, futures trading.
* When CBOT was inventing (commodity) options, their options contracts were constructed around futures contracts
* In commodities biz, futures contracts have a right to exist and an economic value, for producers and manufacturers (buyers). options? questionable.
– A futures contract is a contract. One side must delivery; the other must take the delivery.
– An option is an obligation, a one-sided contract. The writer of the option has an obligation to provide (C option) or pay for (P option) the security upon request. Some say an option is not an obligation, but i disagree.