On this Friday, EUR future(March 2012) were selling for 1.3448 If you think EUR will go up and bought 1 call (of strike price of 1.34), you paid for 0.02010, expiring March 16, 2012. At any time if EUR goes up a lot and this call goes up, you can always sell this call to make money, say, you sold for 0.03010, then you will make 0.01, just like you buy and sell EUR and make 0.01, minus commission. If you ... ...