Loss to Profit, let's make your lost money back !

[IHUBfan]

IPRE, i have always wanted to learn how to trade options.
Since I have no idea, I am not doing anything right now.
Thanks for the explanation. But if you know the big boys are going to dump in the last days why can't you sell your options 3-4 days before and pocket some profit.
Also what about covered calls? how do they work?
I know you have to buy 100 sh of the underlying stock first. And they what do you do? Also do you buy puts to protect your investment from down slide? I know I am talking over my head at this point, but I appreciate a little clarification here. Thanks