Taleb is extremely critical, and this is actually an understatement, about traditional options valuation methods. Especially the very famous Black-Scholes formula, which was rewarded by a Nobel Prize in Economics and which is still taught in business schools all around the world as a golden rule for options pricing, is pretty much useless according to him. Unlinke the Black-Scholes theorists Taleb does not hold a Nobel Prize. This is partly because he is not popular enough at the Swedish Academy of Science who attributes the Prize. But on the other hand he got really rich following his investment strategies. So if like me your ambition is rather to be successful buying options online than to get to shake the hand of the King of Sweden and hold a speech during a fancy dinner in Stockholm I suggest that you learn more about his ideas.
In an article written together with fellow option trader Espen Garder Haug in 2008, Taleb develops his theories about options trading and tells you why the Black-Scholes formula does not work.
Click on the link to be redirected to the article's online version (free of charge to download): Option traders use (very) sophisticated heuristics, never the Black–Scholes–Merton formula.