Obviously, no two or more investments have exactly the same risk-reward characteristics. One characteristic of options is that, to be profitable, the anticipated price movement has to occur within the time frame of the particular option you've selected.  Having said this, however, options have a number of distinct advantages in addition to their limited risk. These include:

The opportunity to profit whether the price of a given commodity is expected to go up (by buying calls) or go down (by buying puts). This advantage should be readily apparent to investors who have had recent and frequent reminders that prices in a dynamic economy can move sharply downward as well as sharply upward. Option profits can be realized in both market environments. Indeed, as easily in one as in the other.

Diversification - Because of the leverage options provide, a given sum of investment capital can be more readily divided among a number of different market sectors simultaneously - such as oil, metals, and livestock. This diversification can improve your likelihood of  "being in the right place at the right time".

Options may be the least expensive way to acquire an interest in just about any of the commodities on which options are available. For example, buying call options in anticipation of rising energy or livestock prices may be considerably less costly than the alternative of, say, purchasing an interest in oil wells or a cattle feedlot.