1 equity option controls 100 shares 1 option on a future controls 1 future. (Each future has a different sizes e,g. ES future is 50/point, CL is 1000/point, GC is $100/point etc.) http://www.cmegroup.com/education.html Bob
Bob is right.1 option equals 1 future contract. 1 future option is worth lot more dollars than a typical stock option. Also spreads on future options are wider.