Well? Basically, some time ago i was using black-scholes from online sources since i din't understand almost anything about black-scholes. Then...i started programming black-scholes on my own to be sure that the price is calculated as it has to. Today, I am using my own enhanced version of black-scholes and instead of calculating the CDF of the normal distribution, i am using the CDF of Levy distribution, which gives presumably lower values for options (which is obviously good for the buyer and bad for the seller), but while matching my "levy black-scholes" prices on historical data - it seems closer to the real option prices. Basically...i am thinking now to try even more ambitious approach and try design my own option pricing formula. Of course it all can turn to be a waste of time since after all black-scholes often gives quite closely accurate option prices to the real market price...which...since my strategies don't involve any static arbitrage of say 3-4% yearly return...i am not interested in something so much better than black-scholes. Perhaps i should focus my efforts to some other direction? So...what do you do when pricing your "best" price for the option given the stock price, time and other factors? thanks!