I would not recommend doing Options, Loop, unless you have someone who knows them and to coach you on them, not from the Message Board. The risk is huge, and I would not venture into them alone. I was able to learn from another family member who is well versed at it, and took me several months to become more proficient.
Simply put, Options are a way of earning premium on your holdings of shares at various strike prices. You can either buy calls, or sell them. If you own shares already, let us say like 400 shares, you would have 4 Contract rights to Sell each week, or monthly. One contract represents 100 shares.
So looking at next week. I have sold contracts for next week's 535 strike which i got $3.80 , which is 380.00 per 100 shares. What I am betting on is that the stock will not close the week higher than 535.00. Now as the week progresses, there is time devalue on the premium, as well as appreciation or depreciation of the premium, depending on the share price. If the share price rises, so does the premium on the Call (one can do the Put side also). However, you are basically betting on the closing of the stock by the end of expiration which would be this coming Saturday (it is the Monthly this coming week). This is difficult to explain here in the Message Board, and further good reason for you to get some advice, and not from here.
Please be careful. Like i said, lots of risk, and when you lose (which you will !) you have to be prepared and accept it. I perhaps have made this more confusing for you.