How much do you know about playing the stock market with options?

The following are highlighted options insights and ideas from

TheStreet.com

.

From

Retail's Best Back-to-School Options Play

(Video, Aug. 7):

Steve Smith, Options Alerts:

"I like

Kohl's

(KSS) - Get Report

for back-to-school sales... You can buy the September $45

call

at $2.50. What I would actually prefer, is to create a little bit of calendar spread... So you can sell the August $45 call $1.30, buy the September $45 call for $2.50... So you're only spending a net debit of $1.20 to buy those $45 calls that are only $1

out-of-the-money

."

To watch the video, click the player below:

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From

Dykstra: My New Playing Field

:

Off the

baseball field, I had to learn the hard way -- by taking a hit in the wallet -- before I really got the motivation to learn the rules of my new playing field: the stock market. I gave my broker $2 million to invest for my retirement. The next thing I knew, most of that money was gone. I had just $400,000 left. I was angry and couldn't believe my money disappeared. So I took one year to learn as much as I could about the market and then went at it.

I often get questions about how I got started. So, I will take you through the first step in my process today. It's pretty simple. I establish a universe of stocks that I am interested in. Currently, I have somewhere around 100 companies that I look at.

Once the stock is on my list, I watch it every day. I try to find trends and see how the overall market and its sector impact the performance of the stock. I also try to see when the operators on Wall Street make a mistake and undervalue the stock.

Read the full article.

From

Dykstra: Winning in Any Market

:

One recurring question I hear is whether my system works in a down market as well as an up market. Some have claimed -- incorrectly -- that my system only works during a bull market. This is simply not true. The stats don't lie, so let's go to the videotape.

Image placeholder title

I started the 2008 season on March 25, when I picked

Delphi Financial

(DFG)

in a column I posted on

TheStreet.com.

That day, the

S&P 500

closed at 1352.99. From there the index rallied, hitting 1426.63 in mid-May before steadily declining. Yesterday, Aug. 4, the index closed at 1249.01, more than 100 points lower than when the season started.

However, despite the decline during that time frame, I was able to ring the register over and over -- 47 times to be exact.

Read the full article.

Mad About Options: Bully for BofA (Video, Aug. 7)

Jud Pyle and Matt Buckley review Jim Cramer's recent bullish comments about

Bank of America

(BAC) - Get Report

and offer an appropriate options strategy. The Mad About Options crew also breaks down options ideas for

Blockbuster

(BBI) - Get Report

and

EMC

(EMC)

.

To watch the video, click the player below:

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Plus, don't miss these recent options strategies on

TheStreet.com TV:

Mad About Options: First Solar Eclipsed!

(Aug. 6) and

Mad About Options: Stock Up on Costco

(Aug. 5).

For more information about Mad About Options, visit

www.ONN.tv

.

To stay up to date on options, bookmark and visit

TheStreet.com's

Options/Futures section

.

This article was written by a staff member of TheStreet.com.