My understanding is that there are no market makers operating on options listed on the ASX main board. They operate on the options board which deals with options over many items including metals, companies, currencies etc. Before one deals in these, one should ensure that they understand the mechanics and the associated risks and rewards. That market is akin to future trading; however, unless future trading your losses are limited to your investment. If you are interested in these also have a look at warrants. They are another investment tool which are exiting to trade but again limit your losses to your initial investment.
Thanks for the question and please understand that I am far from qualified to give an answer with any authority.
