Introduction -- Option selection -- Entering and exiting option trades -- The Greeks -- Risk graphs -- LEAPS and weekly options -- Assignment anxiety -- Broker selection -- Miscellaneous tips -- Vertical spreads -- Event-producing credit spreads -- Calendar spreads -- Advanced calendar spreads -- Covered calls -- Straddles and strangles -- Stock repair and stock enhancement -- Married puts -- Collars -- Advanced collars -- Naked option writing -- Stock substitutes -- Backspreads -- Butterfly spreads -- Iron condors and double diagonals -- An end-of-year tax strategy -- Day trading an index with options -- Delta-neutral trading Theory of maximum pain -- Implied volatility and the Black-Scholes formula -- The put-call parity relationship.