Based on the Question 2, please add more than 1 page, thanks

2.What is the major difference in the obligation of one with a long position in a futures (or forward) contract in comparison to an options contract? A future (or forward) contract is a vehicle for buying or selling a stated amount of foreign exchange at a stated price per unit at a specified time in the future. If the long holds the contract to the delivery date, he pays the effective contractual futures (or forward) price, regardless of whether it s an advantageous price in comparison to the spot price at the delivery date. By contrast, an opinion is a contract giving the long the right to buy or sell a given quantity of an asset at a specified price at some time in the future, but not enforcing any obligation on him if the spot price is more favorable than the exercise price. Because the option owner does not have to exercise the option if it is to his disadvantage, the option has a price, or premium, whereas no price is paid at inception to enter into a futures ( or forward) contract. A long party in a futures contract is obliged to buy the underlying asset at the agreed price (futures price). In contrast, a party long in an option only has a right, but not an obligation, to buy the underlying asset at an agreed price (strike price). A future contract is a means/way used to purchase or sell a specified quantity of foreign currency at a given cost in a specific near future .If for example the long time contract to the delivery date is help or upheld, the required individual shall pay the precise contractual forward price without consideration on deviation from the spot price. On the contrary on my opinion, option is another type of contract that gives the right and obligations for purchasing or selling a specified quantity of asset for a specified price at some time in the future. This does not make any legal enforcement if current spot price is reasonable or very high compared to the exercise price