Great site here and with some great posters here (you know who you are!).
I have been trading for about 6 months now, and call my self a trader, making about a dozen or so trades a month depending upon market conditions, etc.
After trading mainly the normal shares (I think the term is heads(?)), I was wondering whether someone can explain what the idea behind options is?
All that I know right now is that Options are much cheaper than the normal shares, but I was wondering what exactly makes them so cheap and are there any conditions or pre-requisites that apply to them (ie- do I have to buy normal shares if I buy options?)
If someone can provide me with a bit of detail or can shove me into the right direction in regards to options then that would be very good.