Option sellers make money in normal markets, only to give it all away in stressed markets. They can consistently make 1-2% a month for years and then lose 80-100% in 6 months or even 6 hours. The best way to make long-term money in options is to be a dealer that sells them while hedging with the stock and pocket the commission/spread :)
Taleb was running his hedge fund buying way out of the money options in anticipation of a crash where they would make hundreds if not thousands of a percent return at the expense of option sellers. However they recently shut it down. I guess it just bled to death without having a crash in the past few years.