good points Erich..

you mention about selling writing option... i condone this activety for any individual trader.. this is an institutional game
you need huge pockets.... sooner or later writers get bagged big time.. especially in the front month when the options are cheap.. seen a few traders go broke playing this game... and its kinda stupid too
unlimited or almost unlimited risk for a very small profit...

would rather be on the other side.. huge profit limited risk... :)

you start out doing 5 or 10.... think your good and do 100 and bang 20 x against u in seconds... bankrupt!!!!!

my best trade ever was buying 100 oex put options on friday morning of expiry day.... for 1/16 closed at 10
thats 160 times on my money.... also that day a broker im my office sold 200 for a 1/16 th lol.. what a morron...

cheers

dd