text: trading options? what option strategy offers a combination of the possibility of large reward, with the safeguard of being easy to adjust to protect the money invested? here are two sites with some option strategies you can study: http://www.888options.com/strategy/default.jsp http://www.poweropt.com/strategymenu.asp  i don't know what you mean by  "protect the money invested". trading options is speculative. there is no guaranteed 100% win strategy. what is important is money management and preservation of capital, so that you can trade again, after a lost trade.