How to invest in options. 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 how to use them to best advantage. All terms and phrases unique to the options market are explained and there is an illustrated glossary. Every strategy, concept, and method of option investing is presented in clear, nontechnical language, supported by helpful examples. Shows how to use options for risky speculation, or conservative hedging.