If you have only one set of options per product... like size or color, and not two or more... then you can store that information with the options in a single options table.
Have an options table that has the productID as well as the optionName, optionSKU, and optionPrice.
If products have more than one option per then you need an intermediate table. If you are doing inventory control, then you need a separate product for each unique option combination.