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The two types of options are the put and the call. Acall option gives the purchaser the right to acquire a long position in a futures contract at the strike price on or before the option’s expiration date. Call premiums typically increase as the futures price increases, thus benefiting the call buyer.

Calls can also be employed for protection against rising prices. If you call, you’ll want to own the commodity in the future because it is increasing in value. You are basically calling something to you.