Options are versatile financial instruments used in natural gas hedging. This article details the use of call and put options, explaining how they can be used to hedge against price fluctuations. Call options give the right to buy natural gas at a specific price, while put options allow the sale at a set price. These instruments provide flexibility and can be tailored to specific hedging needs. The article covers the benefits and limitations of using options, with real-world examples illustrating their application in natural gas hedging strategies.