Chris,

In the vast majority the trades Erich and I enter or put out there for learning examples have risk well below that obtained even by doing Vertcal Spreads. If I can learn a way to alternatively limit my risk to relatively small levels with out halving the upside and doubling comissions for a side by side comparison of likely trade out come ... I believe I got a "no brainer".

It takes a VERY specific set of circumstances for me to consider an option strategy over a futures strategy at this point.