The following video is part of a special series in which Motley Fool analyst Austin Smith and "Options Whiz" Nick Crow discuss how to make 2012 the year YOU master the market.

In this edition, Austin and Nick discuss Barnes and Noble. Austin's concerned that in the short term and long term Barnes and Noble may be on the path to bankruptcy. Nick offers a few options on how to make a profit from a potential demise. If Nick's strategy of risk mitigation and potentially high returns seems exciting to you, be sure to check out the free Options Whiz material below, where you can learn more about this strategy and others.

For more details on how to trade Barnes and Noble using similar options strategies with as much potential or more, just click here.

You'll be directed to the Motley Fool Options Whiz -- our interactive "Options U" designed to teach you to trade options sensibly, with a minimum of risk, and all the resources of The Motley Fool behind you -- all 100% FREE!

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.