Options are financial contracts that give you the right, but not the obligation, to buy or sell an underlying asset (like stocks or indices) at a predetermined price (strike price) within a specified time.
Trading options allows investors to benefit from market movements, leverage their investments, and hedge against risks.
Flexibility to trade in different market conditions and risk appetites. Leveraged trading by controling a larger position with a smaller investment.
Hedging by buying protective puts. Your risk is limited to the premium paid.