Drownpruf, your aggressive attitude towards board members is absolutely amazing, relax or you are going to have a heart attack one day.
Trading "mispriced" options is not an edge. An "over valued" option can rise in value and an "under valued" option can fall in value.
Sure, but apparently some traders swear that it is possible to profit from mispriced options, here is one of them: http://www.moneyshow.com/articles.asp?aid=OptionsIdea-19436 From the article: "This likely sounds crazy in the day and age of computers, but up until about 2003, floor traders spent a majority of their floor time looking up at the option screens and converting calls into puts and vice versa. If the trader found a call or a put that was mispriced, the trader would then trade that option. The idea was the trader was trying to lock in "edge." "Edge" is a term professional traders use for the value the trader enters an option trade above or below its theoretical value. "
I do trade options, among other things, yes... Why don't you explore and try to exploit some of these put-call parity "mispricings"? It's the only way you'll be able to know for sure what's going on out there in this inefficient options mkt...
Of course if you're a good disciplined trader you can trade options and for example as Price Headley once suggested when selling strangles if premium trebles on one side,close out and have a rethink. Even a fund manager could cope with this, and yet they fail every year relying on the retail trader being scared about 'complex' products. It all comes down to discipline-and despite knowing when and what to do, I have on several occasions failed to act correctly. I'm still here though