726 Part VI: Measuring and Trading Volatility 
So, is there a better alternative? Or should one just pack it in, buy some index 
funds, and forget it? As an option strategist, one should most certainly believe that 
there's something better than buying the index fund. The alternative of volatility trad­
ing offers significant advantages in terms of the factors that make directional trading 
difficult. 
If one finds that he is able to handle the rigors of directional trading, then stick 
with that approach. You might want to add some volatility trading to your arsenal, 
though, just to be safe. However, if one finds that directional trading is just too time­
consuming, or you have trouble utilizing stops properly, or are constantly getting 
whipsawed, then it's time to concentrate more heavily on volatility trading, preferably 
in the form of straddle buying.