Physical Option

现货期权（Physical Option） 　　

现货期权是以现货为标的资产的期权，期货期权是以期货为标的资产的期权。在交易所交易的期权主要有商品期权与金融期权两大类，其中所有的商品期权都是以商品期货作为标的资产的，因此都是期货期权；金融期权有的是以现货作为标的资产的（比如股票期权、指数期权、利率期权与外汇期权），因此属于现货期权范畴，有的是以期货作为标的资产的（比如指数期货期权、利率期货期权、外汇期货期权），因此属于期货期权范畴。

An option that is based on a physical asset. Physical options give the owner the right to buy or sell physical assets at a predetermined price and date. They are called "physical" because they are based on assets such as currencies, Treasury debts and commodities, rather than stocks, futures and indexes.

As with any other type of option, you can purchase a call or put. You have the right to "call in," or buy, a physical asset by owning a physical call option; you have the right to "put out," or sell, a physical asset by owning a physical put option.

The Chicago Board Options Exchange (CBOE) trades physical options that represent underlying assets such as gold or electricity.