Options can be a valuable tool in portfolio management, but investors should be well-versed in how options work, and the risks involved, before actively engaging in options trading.
Options can provide you a hedge, or provide the potential for unlimited gains or losses. They can also give you a relatively conservative income stream. Proper use of options can be highly profitable, but requires some level of expertise and a watchful eye.
We strongly discourage you from using options without the help of an investment professional that has experience with options, though bear in mind that not all advisors are comfortable using options.