Can someone explain term_vectors vs index_options v2

I am confused by when to use term_vector or index_options in the mapping
definition. Google led me to:!searchin/elasticsearch/term_vector$20vs$20index_options/elasticsearch/3OsHn5w3H-E/bgFRLcdgqGQJ

But unfortunately - I don't understand those words when they are arranged
like that.

Specifically, will I choose one of those settings or the other, or
sometimes both?

When I have fields that I'm usually doing phrase searches on, should I set
one or both of those values? and to what?

What should I use when I want to use autocomplete? or highlighting?

Any help is appreciated - thanks!

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