any good reads on options?

Quote from Softgiant:

I am wanting to learn more about options for protection against a stock purchase...can anyone recommend a good educational read for me on this so I can learn more about the options market? Thanks for your help, sg
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Why not hedge your stock by selling it?
 
Couple of ways I like to hedge. One, buy high quality, dividend paying stock. Then sell leaps (calls). For example, let's assume that J&J is selling for 50. I would buy 100 shares and sell 1 LEAP at 60. You're using the premium and the dividend as a hedge. You can also put on a collar: buy 100 sh, sell an OTM put, then sell an OTM call to help pay for it.
 
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