How to trade options in the UK?

I asked this question in the Options forum but got no response despite several views, so I'll try here.

Whats the preferred way to trade options in the UK? Because it seems you either have to register with a US broker like Interactive Brokers, or go with spread betting firms in the UK.

I've noticed spread betting firms mainly offer Options here, but the difference is that you don't own them as you're betting on price changes and also instead of trading contracts, you're trading "£ per point".

So I was wondering if anyone has any experience with spread betting options?

I have no experience PA trading options in the UK but...I'm not sure how much of an issue not actually owning the options presents to you as I'm sure you don't want physical delivery of orange juice and I assume you don't want to be delivered into an e-mini future for example. £/point instead of trading contracts just makes it easier for you to know your risk in my opinion, and you have the added benefit of tax-free gains within a SB account. As long as the spreads are tight and they don't screw you on settlement I would give it a shot.

I would second all that mb325 has posted - and especially £/point makes things a little easier to manage risk, or you can do the same via CFDs the risk management maths of which isn't too taxing either.

I occasionally trade index/forex options through IG on a monthly/quarterly timeframe and have no complaints and although they don't have "tight spreads" they do the job! As an aside I would generally stay well away from their daily and weekly expiries as that's basically just throwing money away... if you want the real nitty gritty then yes I would go for Interactive Brokers as you say.