Options are the type of financial derivatives, which means that they have no independent value, but are derived from other financial or real property. Beside this key feature, it is specific for options that they give its owner the right to choose whether to execute the certain agreed transaction, or not. It is this ability to choose that values, so the investor has to pay a certain premium to the complier that is specified by the contract, to get the option. Except premiums, option contract is determined by the type and amount of property to which the option relates, then the exercise price at which the holder has the right to buy or sell the underlying assets and the maturity that represents the date by which the option can be used. With its diversity options provide investors numerous possibilities from risk protection to speculation. In this research, the options are presented as a good instrument for hedging and managing he risk. An investor who wants to protect themselves from the risk chooses one option strategy that suits their expectations of price movements in the market, its current market position and inclination towards risk. However, for efficient use of options in the purpose of protection is needed detailed knowledge of the properties and characteristics of the option, and the peculiarities of trading them, which is precisely processed by the work. In this research we have made an example how options trading functions on CBOT, and what conditions must be carried out in order for the trading process to function. On the very end of this research we have made a quantitative display of trade on CBOT.