Hey Mitesh, hope you are well. We all know how good you are as a trader, may be the best out there in public space. However, with due respect, would like to disagree with the above. Hoping to have a healthy debate, to clear out the popular misconceptions. Few pointers. 1/

Short options have a high probability of making a small return and a low probability of incurring a large loss. Long options have a high probability of making a small loss and a low probability of achieving a large gain. 2/

As Taleb illustrates in his book 'Fooled by Randomness', a 99.9% chance of winning a 1$ bet over 1000 bets is not worth it,if there is a 0.1% chance of losing 10000 $. over 1000 chances you will win 999$ but at one go lose 10000$ It works out that if you can win with 99%..3/