first of all check this
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and about doing a project on options, u can relate it to two things
1) as a earning potential ....
As "call" and "put" option both provide a opportunity for capital appreciation due to market changes ....
2) as a hedging option
to hedge the risk .... eg ..... u buy shares and "put" options simultaneously to protect urself from the risk of price fluctuations ....
and moreover u can do a project on how "Hedge Funds" exploit the options to give unbelievable returns