Futures speculators aren’t usually interested in delivering or receiving the underlying asset, as they are more interested in participating in the price changes. If a trader believes an asset’s price will be higher in a day, week, month, or year, they could buy a futures contract on the spot. If they are right, and the price is higher in the future, they could sell their contract before expiry and profit from the price difference.
Speculators tend to close their trade before the contract expires, otherwise they are obligated to deliver or receive the underlying asset or settle the value of the contract in cash.
As for options, if a trader believes a stock may move up to $65, say, over the next six months and it is at $60 right now, they may choose to buy an option contract for $1 (called the premium), that gives them the right to buy the stock at $60 (the strike price) for the next six months.
If the underlying stock goes to $65, they could use their option to buy the stock at $60 and then sell the shares at the current price of $65, reaping a profit (less than the cost of the option). Or they could sell the option and reap a profit of approximately $4 because the option provides a profit of $5 ($65-$60, less the $1 paid for the option). If the stock drops, they could do nothing and lose the $1 paid for the option. They can also sell the option before expiry to potentially recoup part of the premium cost.