I've been trading options for several years with some incredible luck (turned a few thousand $ into six figures in my early 20's). Granted my risk tolerance has

I've been trading options for several years with some incredible luck (turned a few thousand $ into six figures in my early 20's). Granted my risk tolerance has changed quite a bit since - many would consider buying OTM calls/puts prior to earnings straight-up gambling. That said there are many fun yet effective strategies to hedge risk using these multi-leg trades (Reverse iron condor etc).