According to @binance, crypto options provide leveraged exposure with the buyer’s maximum loss capped at the premium, enabling defined-risk directional and volatility trades. Source: Binance Academy - What is options trading - binance.com/en/academy/articles/what-is-options-trading. Calls grant the right to buy at a strike by expiry and puts grant the right to sell, while option sellers face potentially substantial losses and must post margin, making clear risk management essential. Source: Binance Academy - What is options trading - binance.com/en/academy/articles/what-is-options-trading. Pricing and risk are driven by implied volatility, time to expiration, and Greeks such as delta, gamma, theta, and vega, which traders can use to align expiries and strikes with their volatility views. Source: Binance Academy - What is options trading - binance.com/en/academy/articles/what-is-options-trading. Core strategies highlighted include long calls or puts for convex directional exposure, covered calls to generate income on spot holdings, protective puts to hedge downside, and straddles to trade volatility without choosing direction. Source: Binance Academy - What is options trading - binance.com/en/academy/articles/what-is-options-trading. For crypto portfolios, these structures can hedge spot drawdowns, collect option premium, and define position risk during high-volatility events when executed with disciplined sizing. Source: Binance Academy - What is options trading - binance.com/en/academy/articles/what-is-options-trading.