Options have one feature most other investments do not: versatility. Most people associate options with high risk, but options can also be used in many conservative investment strategies as well. This guide introduces 'puts' and 'calls', and shows exactly how they can be employed. It explains all terms and phrases unique to the options market, and includes an illustrated glossary. Every strategy, concept, and method of option investing is presented in clear, nontechnical language, supported by helpful examples. The book shows how to use options in a variety of ways, including risky speculation and conservative hedging. The volume will be of benefit to options traders and investors, brokers and bankers.