If you are looking for the best option strategy, then it is futile as there is no strategy as such. As different strategies work in different manner and result in specific risks depending upon a number of factors including underlying prices. As a trader, it is your responsibility to see as which strategy will work best under certain set of conditions. Given your expectations and market conditions, you need to understand all the strategies and keep away from different ways to lose money while trading options. After all, there is no need to make mistake that everyone else is making.

When looking for the best option strategy, the right way to begin is by eliminating as many potential mistakes as possible beforehand. Although you will find many books written by experts on option strategies and many seminars being held on the subject, the truth is that it is your own preparations and alertness that makes a strategy the best. When you hear someone speaking about best strategies for option trading, they are actually talking from their own experience and for a certain set of conditions in the market.

At the end of the day the best option strategy is the one that helps you make money. It should match your own risk tolerance under a given set of current market environment. The essential point here is to adopt an investing style that suits your personality and your personal quests. You will come across many option traders stressing on the shorter-term, focusing on the pure speculative trading. Don't get carried away by someone telling you that this is the best option strategy or a particular one is superior to another. They are just trying to sell you something. You no doubt have heard suggestions like naked puts are better than Covered Calls or that Covered calls are the best. Make your own opinions and learn from your own experience. It is best to observe the mistakes made by others as they will have plenty to teach you about using the right strategies in trading.

To conclude the topic on best option strategy, it is going to be a mixture of psychological resilience, your own analytical intelligence and technical training and experience that will lead you to make some sound decisions. Even if you have loads of experience, but if you do not support the necessary personality, you will never be able to do well in options trading or find the best strategy that works for you.