The continuous change in the financial and investment environment leads to the necessity of searching new financial tools and products which described as lower cost, no risk, and higher return. The financial engineering contains many multi group of these new financial tools. One of the best example is the financial options which regard as substantial financial tools that should be considered by investing portfolios managers to understand how they will deal with them in a wide scope in many of international and Arab financial markets. The options contracts with contractors supply many merits especially speculation by using few amounts for trading in the financial market. In addition, they used as tool to hedging risks of reducing prices of investment portfolios assets, as well as, we could use strategy of investment through options.