I am looking for a good overall resource for learning options strategies. I have done the optionetics cd's, and have a pretty good understanding but don't really have anything infront of me as a referance. I want to do a little bit of homework and practice before I start trading options regularly. Any suggestions?
I don't think there's one single good resource. I liked Bernie Schaeffer's Option Advisor as a good book I read a while ago. There are so many different strategies and theories to learn I think you just have to start reading everything from books to forums and sites like schaeffersresearch.com and many others. I think The Striking Price in Barron's every week offers some good educational tips too. Do some blog searches to see what others say where you might be able to follow some traders/investors different theories in action. I'll be interested in what others recommend too. As was pointed out yesterday, I don't trade options as much as invest through options. http://mytradersjournal.com/stock-options/
Since you didn't tell us anything specific about your goals, risk tolerance, or capital I can only give you some general information. Natenberg's "Option volatility & pricing" is a good book. The CBOE, redoption, and optionscentral websites have a lot of info. That said, you will most likely lose money trading options because everything is stacked against someone who does not really understand options. There is a significant difference between being a good trader who understands options as a whole vs. "learning options strategies." It takes a lot more than "a little bit of homework."