Thanks for your info"Long term option" for me means an option that is further out in time eg. several weeks/months/years out - depends on your time frame.
If you need to learn some basic information on ASX options, here is a link from the ASX site displaying their options page which shows the variety of info available: http://www.asx.com.au/investor/options/index.htm.
Then scroll down and to the lower left hand side and you will see links for their option education. If you can't find it, try this: http://www.asx.com.au/investor/education/classes/online.htm#options Registration is required, but I believe their basic online courses are free - or at least they used to be free.
Hope this helps!
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