the future is a contract in which the buy or sell to be compulsorily executed in date of the contract. for future contract the margin amount to be depodited with the exchange and mtm takes place at each day. in option contract there is no obligation in buy or sell of the contract they have rights to buy or sell the contract then the price goes above or below the strike price , for option contract to be executed there is a premium amount to be paid which is decided by the seller according to the trend of the market