Options markets are platforms where traders buy and sell options contracts, which give the holder the right, but not the obligation, to buy or sell an underlying asset at a predetermined price within a specific time frame. These contracts are commonly based on stocks, commodities, or indices, allowing investors to hedge risks or speculate on price movements. In options markets, there are two main types of options: call options and put options. A call option allows the buyer to purchase the underlying asset, while a put option gives the buyer the right to sell it. Options trading can be complex, but it offers flexibility and potential for profit in various market conditions.