Trading options is good if you trade strategically. But it requires patience, as ananths mentioned. This is due to the fact that option prices depend on more parameters than just the price or curvature of underlying. Read the book of Hull for more details. Though BS theory is a serious joke (like its name, its close to B-S in the real world), but in absence of another theory, its your best guide to understand options pricing.

What Mr.G probably referred to is price options using binomial (or trinomial or any other variant) probability model, with perhaps more exotic stochastic volatility or jump diffusion models to price options. This is the world of high finance developed and implemented by institutional traders.

I prefer to stick to the basics, that is learn how the auction markets work (perhaps pay a visit to a nearby outcry floor). Know what financial institutions are doing, but trade with simplicity keeping your risk limited and with an objective of buying low and selling high, be it the underlying or market volatility. If you observe bid-ask spread of the underlying (futures in case of index derivatives), it also provides a valuable clue to trading options. If you are close to a pivot point or a major announcement, it is advantageous to trade volatility than naked options. For directional betting, I would suggest to stick with futures rather than taking naked positions on options.

PS. Also refer the thread of DanPickUp for a beginners guide.