here are a few more advanced concepts that are important for option traders to understand:

1. Volatility Skew: refers to the fact that options with different strike prices often have different implied volatilities. This can create opportunities for traders to take advantage of the differences in implied volatility.
2. Volatility Smile: is a graph that shows the relationship between implied volatility and strike price. It is called a "smile" because the shape of the graph is often curved, with lower implied volatilities for ATM options and higher implied volatilities for ITM and OTM options.
3. Volatility Crush: is the phenomenon of implied volatility decreasing after an event, such as earnings release or a big market move. As the implied volatility drops, the options prices decrease, which can lead to losses for some market participants.
4. Butterfly Spread: A butterfly spread is a strategy that involves buying and selling options at a different strike prices, however, with the same expiration date. The goal is to create a position that will make a profit if the underlying asset price stays within a certain range.
5. Iron Butterfly: is a famous strategy that involves buying a call option(CE) and a put option(PE) at the same strike price, and also selling a call option and a put option at different strike prices. It is a combination of a bull and bear spread, and the idea is to make a profit when the underlying asset stays within a specific price range.
6. Risk Reversals : A Risk Reversal is an options strategy that involves buying a call option(CE) and selling a put(PE) option at the same strike price. This allows the trader to profit if the underlying asset price increases, while limiting potential losses in case the price decreases.
7. Condor Spread: A condor spread is a strategy that involves buying and selling options with different strike prices, but the same expiration date, and it is a combination of two butterfly spreads. The idea is to make a profit when the underlying asset price stays within a specific price range.

These are advanced concepts in options trading that can help you increase your potential returns and manage your risks more effectively, however they are not suitable for every trader, It's important to have a good understanding of the underlying markets and underlying assets, as well as a good risk management strategy before trying any of these strategies.