Just wondering if people analyze the underlying to make decisions or just the options? When I traded futures awhile back, we'd look at order flow, resting orders, who was bidding/offering (locals vs commercials), whether the front month on the calendar spread was net bid or offered, try to assess the position of the locals, other markets, etc. So my question is: Do most of you analyze the underlying stock, future, or whatever you're trading, then use options to trade it? OR, do you mostly look at the way the options themselves are trading, without much regard for the underlying? OR do you try to incorproate as much analysis or BOTH as you're able? It would seem, at least to this very beginning options student, that viable trades could be contructed in any of these ways, but I'd very much like to hear form those with more experience! THanks for your patience and replies!