Source: wikimedia.org

In Options  there are many measures that can be used to manage your Trades. Some will give you trends indicating when to pull out or stay in. All these measures may have a degree of complexity and need to be understood before applying then to trading options.

Below is some information on the use of a “Greek” , Delta.

How to Measure Risk When Writing Options

“Delta is a good metric of option risk and should always be considered. However, it has some limitations which all option traders should understand. First the delta can change as the stock moves. As the stock moves toward the money the delta will increase.”
http://www.thestreet.com/story/11731801/1/how-to-measure-risk-when-writing-options.html%3Fcm_ven%3DGOOGLEN

 
Using Delata to manage risk is a good start. If you are new to trading it is a good idea to get some basic training before putting any money down. I am going to do some self adverising now. On the right you will see a free video course which gives some overviews and offers you some basics in emails. It is free so you can see if Options  work for you.