Futures and Options are basically risk management / hedging instruments to help us counter the positions which we take in cash segment. These positions will be squared off in say 30 days or so. i.e. very good in positional trading.
We pay a premium to the Future/option seller. They both are presently cash settled. They both operate in MTM mode wherein daily increase/decrease can be seen in the bank account. They are traded in lotsizes.