I've actually been going through all your posts. Its very helpful. Some things are over my head as I'm still relatively new to options. Just curious, how're you doing in the market? So would you say that the best strategies for trading the options involve the following (This is what I do): 1) Understand what underlying you're trading and the fundamental value it has as well as value proposition. 2) Determine the directional assumption 3) Determine the current techncial's and areas of support or resistance 4) Determine the strike prices of your position using probability 5) determine your risk tolerance I assume no one just looks at options as a mathematical model without any consideration for the underlying business. By Volatility modelling, do you mean determining an equation for the path of volatility and adjusting the variables to come up with a semi-consistent model of where the volatility can be expected? How do you go about doing this?