Options are amongst the most heavily transacted financial instruments in the world. This paper examines how the methods of visual exploratory tools, espoused by Cleveland[Visualizing Data] can be used to analyze the residuals from conventional option pricing models [The valuation of option contracts and a test of market efficiency, The Pricing Of Commodity Contracts]. Until recently, these models were believed to be unbiased [Nonparametric tests of alternative option pricing models using all reported trades and quotes on the 30 most active CBOE option classes from August 23, 1976 through Audust 31, 1978, The Problems of the Modern Conventional Option Pricing Models]. With the aid of visual exploratory tools we see that options on the All Ordinaries share price index trading on the Sydney Futures exchange have persistent, systematic and significant bias. This is the first time that various statistically oriented visual exploratory tools have been used to analyze option residuals. We find that the analysis motivates the use of alternative option pricing methods.