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 Let's delve a bit deeper into two relatively safer option strategies: 1. ** Covered Calls :** A covered call strategy involves owning the underlying stock while simultaneously selling a call option against it. This can generate income from the premium received, which can help offset potential losses if the stock's price falls. It's important to choose a strike price for the call option that you're comfortable with, and to understand that your potential profit is capped if the stock's price rises significantly. 2. ** Cash-Secured Puts :** With a cash-secured put strategy, you agree to buy a stock at a certain strike price if it falls to that level or below. You'll need to have sufficient funds in your account to cover the potential purchase. This strategy can allow you to acquire a stock at a lower price if the market goes down, or you can earn a premium if the stock price remains above the strike price. If you're new to options trading, it's highly reco