i went on an interview recently, it's a senior tech position in a team that owns the firm's proprietary options trading platform or some type of blackbox system. (they were being vague, on purpose i think) was there for 5 hrs! grinding through the rounds,a lot of coding questions and option greeks / black scholes formulas, iv/std etc... Everything was going really well, then finally got the final round, which was just suppose to be a bullshit round before they make the offer as it's the head guy and he doesnt know the details, just to meet/greet type deal. Anyway he asked me 1 question "so how do you make money with options?" that stopped me in my track, so just to get something out i said you can buy a put and if the market drops etc.. or write the contracts to collect premium, right away i knew that's not what he was looking for, so i reversed and started talking about gamma scalping since that's something the pros do use. But now i just lost him in the details, so then i went to recite the different strategies like calendar spread/straddles etc..and how one can be profitable under each in different market conditions. Anyway at that point, i know i lost, as none of them are the answer he was looking for. He was very nice, but i knew i wasnt going to get the job. so lonnnng story short, if you were asked "how do you make money with options?" by a large ibank trader/tech that deals with options daily. How would you answer that question? in not so many words.