CHF43.90
Download est disponible immédiatement
With over 300,000 copies sold, the new edition of this comprehensive mentoring guide clearly presents all of the essential information needed to learn to trade options.
Whereas most options books focus on profit and loss opportunities, this book addresses the issues of hedging market risks in an equity portfolio head on. The author presents the compelling argument that options should not be thought of as risky stand-alone trading vehicles, but offer greater value as a coordinated strategic methodology for managing equity portfolio risks as presented in numerous examples in this book.
Divided into four parts, Options reflects a guiding standard of the past nine editions and includes:
Crystal clear explanations of the attributes and strategies of calls and puts.
A chapter on the short life of an option. This, missing in almost every options book, is a key to understanding options trading.
Examples in Part 1 showing different trading strategies on both sides of the trade.
The second part of the book is about closing positions; taking profit, exercising, expirations or rolling forward your position, risk analysis, profit calculations, and the impact of volatility.
The third part simplifies the complex issues of advanced strategies including the various spreads, combining spreads to successfully hedge other positions and how certain strategies work. Each spread is covered in at least one detailed example.
The final part is on evaluating risk. The unquestioned benefits of hedging risk and strategies that are virtually guaranteed to succeed that are generally the domain of the investment giants along with many examples are discussed.
The book's broad coverage makes it an incredibly valuable desk reference to any trader in options. You won't get explanations like these on the internet.
Michael C. Thomsett is a market expert, author, speaker, and coach. His many books include Stock Market Math, Candlestick Charting, The Mathematics of Options, and A Technical Approach to Trend Analysis.
Click here to see an interview with the author.
Auteur
Michael C. Thomsett, Business Writer
Contenu
Part I: The Basics 1
Chapter 1: Calls and Puts: Defining the Field of Play 3
Equity Investments 3
Debt Investments 4
Investments with No Tangible Value: Options 5
Trading Options on Exchanges 7
Calls and Puts 10
The Call Option 13
The Long-Term Call Option 20
Investment Standards for Call Buyers 21
How Call Selling Works 22
The Put Option 26
Option Valuation 32
Picking the Right Stock 37
Intrinsic Value and Time Value 38
Chapter 2: The Life of an Option 45
Expiration and Exercise 45
What is Clearing? 46
Bid and Ask 47
Order Entry 48
Types of Orders 49
Who Are the Players? 49
Chapter 3: Opening and Tracking: How It All Works 51
Terms of the Option (Standardized Terms) 51
Strike Price 51
Expiration Date 52
Type of Option 53
Underlying Stock 54
A Note on the Expiration Cycle 54
Opening and Closing Option Trades 56
Using the Daily Options Listings 56
Understanding Option Abbreviations 59
Calculating the Rate of Return for Sellers 61
Chapter 4: Buying Calls: Maximizing the Rosy View 65
Understanding the Limited Life of the Call 66
Judging the Call 70
Call Buying Strategies 76
Strategy 1: Calls for Leverage 76
Strategy 2: Limiting Risks 80
Strategy 3: Planning Future Purchases 81
Strategy 4: Insuring Profits 82
Strategy 5: Premium Buying 84
Strategy 6: Pure Speculation 85
Defining Profit Zones 87
Chapter 5: Buying Puts: The Positive Side of Pessimism 93
The Limited Life of the Put 95
Judging the Put 101
Put Buying Strategies 106
Strategy 1: Gaining Leverage 107
Strategy 2: Limiting Risks 109
Strategy 3: Hedging a Long Position 110
Strategy 4: Pure Speculation 114
Defining Profit Zones 115
Chapter 6: Selling Calls: Conservative and Profitable 119
Selling Uncovered Calls 121
Assessing Uncovered Call Writing Risks 126
A Question of Suitability 127
Selling Covered Calls 129
Assessing Covered Call Writing Risks 133 Calculating the Rate of Return **134</stron...