Instead of buying Apple shares directly, investors can lower their risk while getting paid for their time by using options. With the price of one Apple share near $500, it's not easy for many investors to buy Apple without upsetting their diversification balance. Even with standard options it can be tricky. Say hello to a new option product called mini-options. Instead of using a full lot of 100 shares per contract, mini options use 10 shares as their underlying contract size. This allows for greater investor flexibility. In my options newsletter, I currently advise selling the November $450 Put option to collect premium while allowing some breathing room for Apple to move. This strike and expiration can be sold for about $7.35 per contract. Apple needs to decline below $442.65 at the expiration for this strategy to lose money. Otherwise, if Apple is $450 or higher at the expiration, the premium is your profit. At the time of publication the author had no position in any of the stocks mentioned.Follow @RobertWeinsteinThis article was written by an independent contributor, separate from TheStreet's regular news coverage.