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What option-related strategies are better suited to increasing return potential?
I've traded covered calls now and then. This is a recent trade. Bought 1000 shares of RSH (Radio Shack) and sold 10 calls. So, I own the stock at a cost of $6.05, but have to let it go for $7.50. There's a 50c dividend in November, so the call buyer will call it away even if the stock trades below the strike. So, I'm expecting this is a 10 month trade for a 24% return.  This is one strategy where options clearly take down the risk (of course, I did not say 'remove', just lessens). The stock can be 10% lower a year out, and I'm still ahead by 8% plus the dividend if it's not canceled.  Note - it's a rare case for a one year trade to return 20% or more at a flat stock price. More common is 10-12%.  (I hope this example is acceptable as an example of this type of trade. If not, I can edit to "XYZ corp" to remove the stock name. (So if anyone comments, please do not repeat name in case I need to remove)