Option pricing has recently attracted much interest from investors and financial institutions. This paper analysed the broad research trends on option pricing models. The core objective of this study is to evaluate the application of BSOPM and BOPM for option pricing. The present study accomplishes this objective by using a scientific method of mapping. The researcher extracted the relevant data using R studio, which was obtained from the Scopus database over a period of 45 years (1977-2022). The data in the present study are analysed using descriptive statistics. The study covers 651 publications from the areas of economics, business management, accounting, finance, and econometrics. According to factors like total publications, citations, or h-index, this study emphasises the most significant authors, illustrious journals, and producing countries. Additionally, the study examines co-citations, coauthorship, and keyword co-occurrence in option pricing research. This paper will also benefit academicians, practitioners, future researchers, and other stakeholders by offering new views for future research efforts. Results of the current study revealed that most of the research is done in the USA, and Cox JC's work is the most-cited article internationally and locally. Additionally, it has been discovered that the "Black-Scholes Option Pricing Model (BSOPM)" is more active than the "Binomial Option Pricing Model (BOPM)." Graphic and tabular analysis of the relevant data exhibits that extensive research has been done on option pricing. As the concept of option pricing first evolved in developed countries, the maximum number of research was concentrated in developed countries like the USA, UK, and Japan. However, the option pricing concept is relatively new in emerging countries, so a negligible amount of research was done in emerging economies, giving space for further research.