Good article but I kind of disagree with "if one buys an option, one has a 66% chance of losing money; if one sells the option, it’s a 66% chance of making money. So, obviously, it’s best to be on the sell side…". Instead of chance of PnL, the expected result would be more appropriate, and it would be hard to argue in favour of a higher expected return for short options positions. " Short positions require tight risk management because one is basically "picking pennies in front of a steamroller"