Financial options are designed to provide the holder with the right, but not the obligation, to perform an action. The option has a cost associated with it and a time of expiration, after which the option loses its value and cannot be exercised.
These can be used to gamble on future events, but were originally intended as a means to avoid being caught out by price hikes.
Making decisions in times of uncertainty is challenging. Taking in mind The three types of decision outcomes, People prefer to be certain and wrong over being uncertain