Buying out of the money options
I have read both of Nassim Taleb's books and his ideas regarding investment make a lot of sense to me. For those who aren't familiar with his approach, he puts the majority of his holdings into risk free or nearly risk free assets and puts a small amount into holdings that he believes will generate outsized returns but which generally tend to be underpriced, e.g. out of the money options.
I was wondering whether any practicable books exist that discuss this strategy: how to evaluate whether an out of the money option truly is underpriced, selecting which options to buy in terms of expiration and such, capital management, etc.
Specifically, I am interested in hedging inflation risk by buying out of the money options in gold, etc. Suggestions?