Portfolio management is the strategic process of selecting, allocating, and continuously monitoring financial assets such as equities, bonds, cash equivalents, and alternative investments to maximize returns while managing risk. A key enhancement to portfolio performance and risk management is the use of derivatives, which provide tools for hedging, leverage, and strategic exposure. Among these instruments, options are a particularly versatile derivative that supports risk control, income generation, and advanced trading strategies within portfolio frameworks. Although options have important practical applications and academic interest in portfolio management, existing research remains fragmented and lacks a comprehensive overview of the field’s evolution and intellectual structure. Given the theoretical complexity and practical significance of this topic, this study conducts a detailed bibliometric analysis focused on the use of options in portfolio management. Using 690 documents from the Web of Science Core Collection, it applies a multidimensional bibliometric approach to map the knowledge structure and highlight the developmental trends and future research directions. The study aims to provide an overview of recent advancements while identifying emerging research trends that may guide future investigations. This paper clarifies the evolution of academic research at the intersection of options and portfolio management and offers direction for future research.