New Delhi, May 22 -- Options trading usually attracts attention for the payoff potential. Defined-risk strategies, leverage, income generation, hedging flexibility-there is plenty that makes options appealing. But what rarely gets enough attention is the other side of the equation: risk.

Many beginners approach options by focusing on what they could make from a trade. Disciplined traders tend to start somewhere else. Their first question is usually simpler:

What can go wrong here, and how much am I willing to lose if it does?

It changes the way we approach the trade. Successful options trading is about making decisions with structure, using market data to understand exposure before capital is committed.

Because in options, price direc...