Options Trading

[Hoggle]

Anybody have any thoughts on trading stock options?  I have invested for a long time but never done anything with options..... until Friday. Dipped my toe in and sold some 30-day put options, made $600, and figure I'll most likely own these shares in 30 days, at which time I will sell the call options on them, etc.  Thoughts?  Strategies?

[bgsisco]

I like them for protecting investments you own (buying puts or to some degree selling calls) if you think the stock might drop soon.  The rest of it is pure gambling though.  You have to be able to pull the trigger at the right time or in your case, be comfortable with owning the stock you sold the put on.  I know guys that have made a TON of money with options but also a handful that have lost a ton.