Han, it piqued my interest in options, so I went on to learn as much as I could in the following years and realised that you don't have to own the shares to do this sort of thing.
I tried the US markets but found the hours too incompatible with life in Australia...
If one could predict a sideways to slightly rising market, then covered calls/naked put type strategies work well. But it's also been likened to picking up pennies in front of a steam roller due to the massive downside risk especially if leveraged.
