Colombia debe contar con un mercado financiero acorde con las necesidades de la internacionalizacion de su economia. Para esto requiere desarrollar un mercado de derivados, y entre ellos el de opciones sobre la tasa de cambio peso/dolar, de modo que se aprovechen las ventajas de este instrumento, entre otros fines, para la cobertura del riesgo cambiario, cada vez mas latente en un mundo globalizado. Las opciones financieras son poco conocidas en Colombia y sobre ellas se tiene muy poca informacion. Puesto que no hay un mercado organizado, se transan solo en el mercado extrabursatil (OTC), el cual, si bien es cierto que implica mayor riesgo de contraparte, tambien permite el diseno de coberturas a la medida de las necesidades del cliente. Con la globalizacion de la economia y el paso a un regimen de tasa de cambio flotante, se han presentado apreciaciones del peso frente al dolar en los ultimos anos que alcanzan el 25%, lo que ha implicado grandes perdidas para el sector exportador colombiano. Estos hechos deberian impulsar a quienes participan en el mercado externo, en cualquier modalidad, a desarrollar una cultura de gestion del riesgo cambiario para prevenir perdidas futuras por exposicion a la volatilidad de la tasa de cambio. No obstante, se evidencia que, por diversos motivos, no se ha dado un amplio desarrollo de esa cultura, y son precisamente esos motivos los que se investigaron con las mayores empresas exportadoras/importadoras del pais y se analizan en este articulo. Las investigaciones sobre los aspectos mencionados complementadas con el estudio de las variables que afectan la valoracion de las opciones en el mercado financiero permiten formular algunas conclusiones sobre las principales razones para que no exista una fuerte cultura de cobertura del riesgo cambiario, a pesar de que la amenaza de este riesgo es creciente, de por que el mercado de las opciones sobre tasa de cambio es de tan poca profundidad hoy en dia en Colombia y cuales son las perspectivas para una mejor utilizacion de este instrumento financiero que algunos autores consideran como un simbolo de los mercados financieros modernos. Abstract: Colombia has to have a financial market that fits the needs of its increasingly internationalized economy. That means that a financial derivate market has to be developed. This includes a very deep options market in which forex options be widely dealt with in order to take advantage of the multiple benefits of this instrument specially for hedging purposes since the currency exchange risk is more and more threatening in a globalized world. Options are not very well known in Colombia and there is little information about them. They are only treaded in the over the counter (OTC) market since there not exists an organized one. Of course, it is possible to contract tailor made options in the OTC market, which would not be the case in an organized market, but at the same time this implies more counterpart risk. Since the Colombian economy is getting more and more globalize and after adopting a floating exchange rate, the COP has experienced some appreciation that has risen up to 25%. This means considerable losses to the export sector. And also it should drive towards a culture more active in risk managing to hedge against foreign exchange volatility, which could avoid significant losses to the import/export sectors in the future. However, it has been identified that, in spite of the recent volatility of the peso/dollar exchange rate, there is little advance in developing such a culture. So this article focuses on the investigation done about the reasons why the mayor Colombian import/export companies had not progressed in forex hedging even though there is an increasing risk because of the mentioned volatility.Investigations carried out on those topics above said were complemented with the study of the variables that determine the market price of options allowed to conclude about the principal reason against developing a strong culture for hedging against forex risk although this risk has been growing day by day. Conclusions are also drawn about why the Colombian options market has a very little deep, and which are the perspectives for a better use of this financial instrument which is identify for several authors as a symbol of a modern financial market.