Is options trading risky?
We believe it has an edge over normal trading as the probability and the math work in favour of the options trader. Also, buying/selling of naked call or put options is definitely risky, but a strategy can help reduce the risk.
Which strategy is the best?
There is no one shot strategy that works at all times, it depends on the market conditions, volatility, and greeks. We prefer to use net credit strategies.
Option Selling or Option Buying?
Retail investors generally fall in the trap of buying naked options as there is no margin requirement and the perception is that the risk involved is less but the gain could be humongous on the capital allocated, but that is rarely that case and the greeks involved should also be factored in, especially the theta! Institutional investors on the other hand predominantly write options.