The equity can be traded in spot/cash or in futures.
A futures contract is a legal agreement, generally made on the trading floor of a futures exchange, to buy or sell a particular commodity or financial instrument at a predetermined price at a specified time in the future.
The main difference between options and futures lies in the obligation of their buyers and sellers. An option gives the buyer the right, but not the obligation, to buy (or sell) a certain asset at a specific price at any time during the life of the contract.
Futures contracts are either cash settled or physically delivered. Futures contracts that are physically delivered require the holder to either produce the commodity or take delivery from the exchange. Futures contracts that are cash settled are not deliverable and a simple debit or credit is issued when the contract expires.
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