With options you can bet where you think something is going to go and also where it might not. You can backtest and simulate option strategies for outright directional trades as well as multiple option positions. This includes butterflies and condors. Love the VIX? Don't fall in love... You can create a vol trade around any instrument and perhaps better manage your risk. Tony Saliba's new book shows you how you can do with while minimizing your risk. (I published the book). Click here to get Tony Saliba's new book for free. If you are interested in studying this further, you can study with Tony AND get access to his proprietary options trading simulator.