Like in the case of any investment product, every option purchase is a trade-off. If your options have a lower outstanding maturity then it will be available at a lower premium. But the lower outstanding maturity also means that the prospects of your making money on the options stands substantially reduced.

More volatile the stock, the more valuable is the call or the put option. The most important factor driving the value of an option is volatility. Normally in case of call and put, the relationship is positive. When the volatility in the market goes up, both calls and puts become more valuable. There is a simple logic behind this. When markets become volatile there is a higher probability of the stock moving sharply either ways. Since options are non-linear, you make profits when the movement is in your favour but you do not lose money when the movement is against you.