future要提供保证金算不算期初价值不等于0

问题如下：

At the beginning of the contract, which derivative is unlikely to have a zero value ?

选项：

A.

Forwards

B.

Options

C.

Futures

解释：

B is correct.

At initiation, the option buyer paid the option premium to the seller, which is the value of option.

A&C are incorrect. At initiation, there is no money trade between two parties. So that Futures or Forward contract has a zero value at initiation.

在合约初始，value不为0的是contingent claim，所以选B，option。