Options are financial derivatives that grant the buyer the right, but not the obligation, to buy (call option) or sell (put option) a specified asset, such as stocks, bonds, currencies, commodities, or indices, at a predetermined price (strike price) within a specified period (expiration date). Options provide investors and traders with flexible strategies to hedge risk, generate income, speculate on price movements, and enhance portfolio returns in various market conditions. Call options give the holder the right to buy the underlying asset at the strike price, while put options give the holder the right to sell the underlying asset at the strike price. Options derive their value from the price movement of the underlying asset, volatility, time to expiration, interest rates, and dividends, among other factors. Options trading involves understanding and managing risks associated with price fluctuations, time decay, implied volatility, and market sentiment, requiring careful analysis, strategy selection, and risk management techniques. Common option strategies include buying calls or puts, selling covered calls or cash-secured puts, spreads, straddles, and collars, each offering unique risk-return profiles and profit potential based on market outlook, volatility expectations, and investor objectives. Options play a vital role in modern financial markets, providing liquidity, price discovery, and risk management tools for investors, institutions, and market participants.