I know this was not asked but the best options book is
Posted on: June 7, 2012 at 18:11:38 CT
Options as a Strategic Investment by Lawrence G. McMillan. It is a big book but it breaks down most of the different strategies that can be deployed with options from naked put/ calls to straddles, strangles, condors, butterflies, synthetic shorts (very interesting since it's getting harder and harder to just short an equity), tbill option combos, etc. I would suggest that every novice at least grasp most of this book and spend months paper trading before they invest real money with options.