At over pages this book will be your options trading bible. Here is the quick description: The market in listed options and non-equity option products provides investors and traders with a wealth of new, strategic opportunities for managing their investments. This updated and revised Fifth Edition of the bestselling Options as a Strategic Investment gives you the latest market-tested tools for improving the earnings potential of your portfolio while reducing downside risk—no matter how the market is performing. Detailed examples, exhibits, and checklists show you the power of each strategy under carefully described market conditions.
This book is broken down into several important categories: Basic Properties Of Stock Options: Stoc, is your essential introduction to options covering definitions, symbology, order entry, and profit and loss graphs. It won't spend too much time on any one of these subjects but it does give you a good starting point. Call and Put Option Strategies: Lawrence McMillan doesn't waste any time jumping into option strategies. Each strategy has is its own chapter and each one gets its own personal touch.
Best Options Trading Books
You won't find him talking about the same type of information for each strategy. He tailors optipns section and comments to fit the strategy. His descriptions are mostly unbiased and focus on telling you the most important information about each strategy. Additional Considerations: This section talks about the smaller subjects of options trading such as treasury bills, arbitrage, and mathematical applications.
Index Options and Futures: This is an traidng section on how to trade index and future options and how to use them to hedge your portfolio. Measuring and Trading Volatility: Volatility is a huge part of options trading. We believe it is the most crucial aspect of options trading and a clear understanding of volatility will make you a great options trader. Unfortunately, Lawrence McMillan only touches on volatility, but we have other books that dive deeper into that part. Still, it is an excellent primer to get your feet wet and round out the understanding of options.
It spends the bulk of its pages focused on familiarizing you with the each of the options strategies and answering questions about those. It does a fantastic job at this part but fails to deliver on the more advance topics like volatility and the Greeks. The quick description: You'll learn how professional options traders approach the market, including the trading strategies and risk management techniques necessary for success. You'll gain a fuller understanding of how theoretical pricing models work.
And, best of all, you'll learn how to educatiln the principles of option evaluation to create strategies that, given a trader's assessment of market conditions and trends, have the greatest chance of success. Options trading is both a science and an art. This book shows how to apply both to maximum effect. Sheldon Natenberg begins with the option pricing model and then moves into volatility and the Greeks.
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Volatility is a complicated topic, and Natenberg provides a Stoxk start as he breaks it down tradinf easy to understand principals. He also covers more into spreads and specifically into volatility spreads. A volatility spread is a spread that is delta-neutral, sensitive to changes in the price of the underlying, sensitive to changes in implied volatility and sensitive to the passage of time. The Option Trader's Hedge Fund is a great book for running a short option portfolio. Don't let the title scare you away this is not geared towards hedge funds. The short description: In this book, a hedge fund manager and an option trading coach show you how to earn steady, reliable income selling options by managing your option trades and running your options portfolio as a real business with consistent, steady returns.
For someone who has some knowledge of trading options and wants to become a consistent income earner.
#1 – The Options Playbook
Mark Sebastian details out the strategies used toe run a short option portfolio such as vertical spreads, iron condors, iron butterfly, time spreads and ratio spreads. Unusually large option trades hit the tape every day. Options as a Strategic Investment by Lawrence G. McMillan shows how you can improve your earnings potential of your portfolio while minimizing risk. This book provides novice and experienced investors with strong foundations in the properties and advantages of listed and non-equity options. With detailed explanations of techniques, buy and sell strategies, and in-depth analysis, this guide is sure to help you become a more successful investor.
Written for people with some familiarity with options, the author goes into details of how the strategies are used in various situations, as well as why.
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The 5th edition was updated in and provides additional study guides and quizzes. Get it on Amazon Hardcover edition: Buy it now 3. Trading Options For Dummies by Joe Duarte Everyone has to start somewhere, and, for individuals interested in options trading, Trading Options for Dummies is the perfect book to learn the basic principles and strategies of the practice. Joe Duarte is a former money manager, active private investor, and financial writer who uses his experience and knowledge to provide first-time options traders with a wealth of information to help them become more successful.
Duarte will show you: