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Options are actually a really "heavy" subject....You can look at similiar
strikes and strategies multiple numbers of different ways.
The internet is full of "Options Gurus" who mostly "see" a different story
of the "right strategies"....
Like a gemstone with multiple facets; each time you look, they change, with
the "light" being time, price and volatility, volume, and open interest.
I recently read a major study (here?) or on John Summa's (good) website
whereby Futures options are inherently better to trade than equities
options. More correlation(?)
Years-ago I joined the BS (Bernie Schaeffer), and Don Fishback options guru
"hotlines".
BS "recommended brokers" promptly told me to stay-away due to inordinate
losses, and I took immediate losses with Fishback.
Bottom-line...Although you'll have a painful, slow learning process, better
to learn how to swim (and I mean WELL) before you jump into these
shark-infested waters!!
The exchanges (CSCE, CBOT, CBOE, etc) have some good free education and
software.
Also, you can hang-out at "misc.invest.options" newsgroup. There are a lot
of "Wise Old Dogs" and newbies there..You can ask questions and get
reasonable replies (sometimes).
What you shouldn't have to learn the "hard-way" is that these are
derivatives of the underlying and as-such have their own particular markets.
They can be extremely thin, and that will ruin your chances of success
before you even start to put on that fancy "ratio-spread", "short-strangle",
or "collar".
Blitz
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