Last month, I explained some of the basics of options and showed you how buying puts and calls can benefit investors. You can read that issue here. In the beginning of the article, I mentioned that approximately 75% of options expire worthless. And while that statistic may be true, it’s misleading because there are a huge number of options written that are designed to expire worthless. Let me explain this last point a little bit. Let’s say that XYZ Trading Group thinks that the S&P 500 SPDR (SPY), trading just above 129, has topped out and won’t go any...