I'm fairly new to options but am keen to learn as they suit my personality (I'm the type of person who is good at strategy games, the more complex the better). I have already learnt alot about various 'basic' combos (verticals, calendars, condors, butterflies, diagonals, ratios, straddles, strangles etc) and what gamma, delta, theta and vega mean in terms of additional risk/reward on a position. (gradually absorbing Cottle's book). I am in the process of investigating trading strategies to match view on underlying with option trade. A question I had for the forum was on overall approach and I would be interested to hear how people trade. An example to explain my question. I could use a system that scans optionable stocks for technical (or fundamental) signals on 'likely direction'. Then look at potential options plays (eg straight call/put, credit spread, debit spread, OTM calendar etc etc) that offer the best risk/reward. Second approach could be to pick 10-20 stocks that have high options volume (hence better range of strikes, expiry months, liquidity and spread prices) and 'play' these adapting my position as the stocks move up down and consolidate. I understand the impact of vega but don't intend to focus on trading vega per se (other than skews for calendars where I can get a wide breakeven and low debit). How do folks on the forum marry underlying to options strategies ?