Options are essentially a type of futures contract that provides traders the opportunity—but not the obligation—to buy or sell an underlying asset at a predetermined price and on a pre-agreed date. Not unlike traditional bitcoin futures contracts, options are most often used as a hedging device, allowing traders to minimize risks while making a bet on the future price of an asset. Turbo options, meanwhile, turn the heat up on traditional options by appending additional leverage and offering a stop-loss to minimize drawdowns.