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).
Also, I very much dislike to limit upside potential.
In the long run, I'd like to use options to take advantage of these underestimated rare events, in a way similar to that of Cornwall Capital's Jamie Mai (as portrayed in the book/movie Big Short and subsequently in Schwager's Hedge Fund Market Wizards).
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!
UPDATE feb 16:
This site provides option chains and visualizations of historical prices for SPY, NDX, HYG, as well as probably most other tickers: quotemedia.com
Kinda primitive site technologically, but still better than e.g. Nasdaq's own site (where I found it, linked) and best one I found so far for option chains/price graphs.
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