About Options

Options are financial products. They give the right to buy or sell a fixed quantity of commodity, currency or security at a particular date at a particular price. An option to BUY is known as Call Option, an option to SELL is called a Put Option. The purchaser is not obliged to exercise the option and his loss is limited to the initial purchase price (premium).
OTC markets (Over-the-counter markets) are used for trading in specific tailor-made derivative products.

Please find below links to independent sources describing options:

http://en.wikipedia.org/wiki/Option_%28finance%29
http://www.investopedia.com/terms/o/option.asp

More information can be found under About/Resources.