Welcome to the Options Institute Online Learning Center! From the world's largest options exchange and the leader in options education comes the most comprehensive self-guided tutorials in the industry. These courses are designed to engage, challenge, and educate all skill levels, from the novice to the advanced option investor. Step inside and experience interactive learning created just for you, by CBOE's acclaimed instructors.     Options involve risks and are not suitable for everyone. Prior to buying or selling options, an investor must receive a copy of Characteristics and Risks of Standardized Options (http://www.cboe.com/Resources/Intro.aspx). Copies may be obtained from your broker or from the Exchange at LaSalle at Van Buren, Chicago, IL 60605. In order to simplify the computations, commissions, margin, fees and taxes have not been included in the examples used in these materials. These costs will impact the outcome of all stock and options transactions and must be considered prior to entering into any transactions. Investors should consult their tax advisor about any potential tax consequences. Any strategies discussed, including examples using actual securities and price data, are strictly for illustrative and educational purposes only and are not to be construed as an endorsement, recommendation, or solicitation to buy or sell securities. Past performance is not a guarantee of future results. For the purposes of these lessons, the examples used within refer to equity options.