Industry luminaries such as Tom Sosnoff of thinkorswim, George Ruhana of OptionsHouse, Wade Cooperman of TradeMONSTER, Don Montanaro of TradeKing and Stephen Ehrlich of Lightspeed, all sat down with me to give their thoughts on the current trends in the options market.

By picking their brains on a variety of issues, I uncovered 10 options trading myths that can now be declared "busted!" Let's take a look at a few of these busted myths now:

Myth #1--Options trading is only for professional traders with years of experience.

Although it's long been held that trading options should be left to only the most experienced traders, in recent years this notion has changed. According to Tom Sosnoff of thinkorswim, "I think [options trading] has become [widely] accepted now. Five to seven years ago it was on the fringe. Ten years ago it was kind of like completely an alternative investment. Now trading options with penny wide markets and the ultimate competition for order flow - it's like trading stocks."

Myth #2--Option trade execution is a rip-off. Market makers have it fixed so they make the big money while the individual investor gets stiffed.

This myth is simply a vestige of a market where trades were executed only by the market makers.hanks to the advent of technology, things are done completely differently now. According to Sosnoff, "We've come from essentially an archaic open out cry system with non-competitive marketplaces to a very competitive multi-exchange listed, efficient world of trading. The option marketplace changes have been more dramatic than anywhere else just because of all the different exchanges competing for the same order flow."

The reality in the options markets now is that technology combined with greater competition for trade execution has added a high-level of openness and transparency to the trade. This environment insures that options trades are executed at the best price available for virtually every trader.

Myth #3--Option trades are difficult to execute and should only be handled by professionals.

The myth that options trades are difficult to execute is a byproduct of that bygone era when user-friendly options trading platforms didn't exist. The new generation online trading platforms are easy to use, intuitive and contain sophisticated guidance tools that make trades easy to execute and easy to understand.

This is just a taste of the many myths busted by the options experts I spoke with.