The topics of financial risk, asset allocation, diversification will be explored. Including: The advantages and disadvantages of using ETF’s with options Specific option strategies such as covered calls, protective puts and vertical spreads The concepts of market uncertainty and their implications on implied volatility Popular types of ETF’s Special consideration on the rationale for selecting a specific options strategy based on a trader’s market perspective Options strategies using risk/reward payoff diagrams to further the understanding of why each strategy might be selected The benefits and drawbacks of the various option strategies