How about NONE OF THE ABOVE!
The magic world is so overly saturated with single effects and "eBooks" composed by individuals who have less than 3 years experience around the business, it's insane. Many of these ideas AREN'T audience tested, haven't been "screened by other pros that can help refine it, etc.
The "right way" of doing it is probably closer to (A) if anything; you work with the effect for a while and "tease" the market with it, let it build your reputation before you share it. Not only will this add to your own sense of recognition, the demand adds to the percieved value of the effect and thus, the kind of returns you can expect to see from the sell of something two or three years down the road, AFTER it's become something everyone wants.
Whoring yourself out to Penguin or Ellusionist is again, not a sound move. Firstly, everyone is trying to get in on their growth which means it will be months if not years before they'll even look at you (unless you get the right kind of introduction to them). The other thing to remember is that again, the market is overly saturated right now... wait!
One of the things that was suggested long ago in my youth, is the share things freely. Quite literally, contribute five or six pieces a year in two or three of the more noted magazines of the magic world. This kind of action protects the piece as being yours (in case some low life comes along and tries to duplicate it and sell it as their own) and again, it helps build up your own name recognition from within the industry which, if you think about it, is far more important when you're younger than building on the cash flow. Get your name out there and start getting recognition for innovative thinking, that will open the doors for you that you want opened and again, adds to the percieved value of your stuff down the road when you really do start marketing it.
You have seen me put out the question many times
"Why work up hill when you don't have too?"
If you take the slow-boat approach I've suggested here, work with your ideas, share a bit here and there in the trade publications and so forth, you will become one of those guys all the kids admire and throw money at in a few years. You will have a track record and proven value and that's how it works.
