I'm trying to learn the basics of buying options. In the present moment, I want to use them to go short this belief-defyingly overvalued market. Therefore puts is my focus now. Calls equally interesting otherwise.
I would be very hesitant to write options as I, like Taleb, worry about tail risks, which most people tend to underestimate (even dismiss the existence of, often).
In the long run, I'd like to use options to take advantage of these underestimated rare events, in a way similar to that which Jamie Mai of Cornwall Capital (as portrayed in the book/movie Big Short and subsequently in Schwager's Hedge Fund Market Wizards) does.
If someone wants to learn with me, or contribute their knowledge to help us who are less initiated, you are welcome to come along for the ride!
Here's my first useful find:
SPDR S&P 500 (SPY) Option Chain | Nasdaq
Provides a pretty good overview over the alternatives one has when one wants to go short the S&P500.
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