Option Millionaires

[TreasureCoasting]

Yes. It's a "zero sum" game. Most options expire worthless. But as long as there is "bid" then there is a buyer and you can sell your options to someone else.

If you're long an option then time works against you and erodes value which is especially rapid in the last few weeks before expiration. High risk - high reward. Unless you hedge you can easily lose it all. (By hedging I'm referring to positions like a Bull-Call spread, Bear-Put spread, etc.)

If you're "in the money" at expiration your options can be exercised and you'll own the underlying stock at the strike price - you just need to be sure your account can afford to buy them at your strike price.