Several calculations assist in identifying price advantage in options contracts. These include put/call parity as a means for selecting synthetic and straddle trades. A second calculation identifies upper and lower bounds, a means for identifying finite risk levels. In pricing options, three elements of price each contain different features. These types of premium—intrinsic, time and extrinsic value—define likely profitable outcomes for specific trades and their timing. In doing so, the additional calculations of Delta and Gamma further articulate varying degrees of risk. A method for identifying the applicable variables in options selection is to enact side-by-side comparisons between different underlying stocks, expirations, strikes, and the moneyness of each. This logical progression of analysis is an effective method for selecting options and specific strategies.