with BTC rates doing what they do, I guess for any serious business to
start using bitcoin we'd really need option trading.
For businesses, what you need is a third party enabler. Here's how it works.
Merchant's shopping cart displays the total (say $25), together with a bitcoin equivalent valid for one minute (say 7 BTC). If the customer pays 7 BTC, the enabler gets the Bitcoins and pays the merchant $25. No risk for the merchant that way. Most merchants don't want to mess with currency hedging.
Obviously the enabler needs to set their rates so that they make a profit. In a rising market, they can keep a "float" of Bitcoins, and make money on the rising value of their float in addition to what they make on their exchange rate margin.
This is a huge business opportunity for someone who does it right.