The following video is part of a special series in which Motley Fool analyst Brendan Byrnes and "Options Whiz" Alex Pape discuss how to make 2012 the year YOU master the market.

In this edition, Brendan and Alex analyze Boeing. Sometimes investors love a company but are hesitant to simply go long or short in the stock. Options can be a great way to lower an investor's risk and also increase a stock's upside. In this series, part of our Options Education Month, Alex and Brendan discuss how to benefit from Boeing's tremendous future prospects while controlling its risk.

Alex Pape owns no shares of companies listed above. The Motley Fool owns shares of Northrop Grumman. Motley Fool newsletter services have recommended buying shares of iRobot and AeroVironment. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.