Re: please help me settle an argument on options...
I tend to agree with you.
In my trading career, I have generally either lost money in options, or made less than I felt I should have made by simply owning the underlying instrument outright.
The people I know who have been successful trading options use them more for hedging, and have a good feel for value in a pricing.
But I agree- unless you're a real expert, stay away from them.
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