Two good Web sites that provide examples of option-pricing behavior of different strategies under various scenarios are the Chartbender education page and it also offers a downloadable Option Strategy Guide . Another good site is SpreadTradeSystems, which offers online education and some sample examples of how and when to use different spreads.
Remember, there is no one right way; the goal is to try to choose the strategy that best aligns with your expectations. Steve Smith writes the Options Alerts newsletter for TheStreet.com. Each week Smith prepares a winning cocktail of options trades for his subscribers. He's currently got options plays on a variety of companies including Apple and Joy Global as well as the Spyder Trust.


