Do any of you employ strategies which instead of using the proverbial 100 shrs of XYZ against a put or a call use 50 shrs against your put or call? Or say 150 shrs, or 200 shares against one put or call? Or 2 puts or calls against 100 shares? Sorry if this is kind of elementary. After I read the book I knew everything there was to know about options. Then they started inventing butterflys and condors and who knows what all.