Trading Stock Options will show you how you can use options to:
* Get paid to buy and sell your favorite stock
* Purchase stocks for less than their current price
* Buy insurance on stocks in your portfolio
* Profit when stocks lose value
* Perform short-term trades with less money than trading the stock
From the Introduction
"Through my experiences with option trading, I have tried almost every strategy I could find. In this book, I will be discussing the strategies that I use the most and feel are the best available. I will take you through a number of actual trades as they occurred and show you what I did right and what I did wrong. I will also show you plenty of theoretical examples of how the strategies work and what factors will influence which strategy is the best for whatever situation the market throws in front of you. In 2007 I was the first place finisher in the Zacks.com 4th Quarter 2007 options trading contest with a return of 212%. It hasn't always been pretty but I have used both my gains and my losses to learn, both of which I'll be discussing with you."
Price: $12.95
User Reviews about Trading Stock Options: Basic Option Trading Strategies And How I've Used Them To Profit In Any Market
I made 20,000 dollars. I have been involved in the market for a little four years, but really involved, as in a professional attempt for the last year. I had no idea what options were for the first six months of trading. I traded solely in the stock market and settled with using heavy amounts of margin, and occasionally making some big gains here and there (up a hundred thousand dollars), but my risk was usually bigger. I'd need fifty thousand dollars, twenty five thousand in margin, to make ten thousand dollars, two of which gets taken from me to pay the interest. I didn't like margin, I hate debt, and I hated borrowing money (It's why I've gone to the cheapest colleges I can find)... I've only had one Line of credit for a cafe I opened that was all, everything else was investors investors investors. Anyways. I decided after seeing so many books at Barnes and Nobles on Options that I should see what they are all about. Eventually, I decided I wanted to know what they were. So I bought a couple of books, since the internet told me I needed to have an advance degree in Calculus, and an understanding of greek, and all this other stuff. Well, Getting Started in Options was my first book. It laid it all out nice and simple, and was a very informative book on the options market, I read it in a day, then reread it a few days later to make sure I understood it. Then I started reading all these other books, but they seemed to be rather uninformative and they focused on how to make a living writing options, something I wasn't really all that interested in.
Then I found this book. Trading Stock Options: Basic Option Trading Strategies, and How I've used them to profit in any market. This book seemed really informative. It wasn't McMillian's (which I've read), or The Bible of Options Strategy, but it was definitely the best book I think someone just starting out would like to have.
If you don't have an understanding of the stock market, or what moves stocks, or how to find a stock about to break out, or is trending upwards, then this book is not for you. This book, in my opinion, is for the stock trader who wants to branch out into options. It's my opinion. Anyways, how I made twenty thousand dollars in one week. It was June 21st, the Front Month of a new options contract. Intuitive Surgical (ISRG) had just bounced from the 320's to the 359 or so. But it was closing down for the day. I decided that if it was down tomorrow I would buy some Puts at 330, I did just that about at 2.76 a contract, or 276 dollars, about 280 with commission. I bought 10 of them for a total of 2,800 dollars. Just as I thought, the stock crumbled. On the seventh day, I sold the contract for 20+ dollars, making 20,000 dollars in total on one trade.
P.S. It wasn't my first trade, I've had several success and failures in the option market for months. This was a notable one for me because it's recent.
Books I'd reccomend for stock moves that will help with option trading.
All of Nicolas Darvas's works
Trend Following by Michael Covel (especially if you're considering futures as well)
How To Trade Stocks by Jesse Livermore (it was said that Jesse Livermore looked for stocks that would give him ten points in a week to a month, I've used his strategy several times to make a good deal of money on up and down markets)
Stan Weinstien's Secret's for Profiting in a Bull and Bear Market by Stan Weinstein (His technical analysis is priceless
How To Make Money In Stocks by William O'Neil (he's all about the break out buy).
Options are not for everyone and just like stocks they are not for the get rich quick schemer or anything of the short. They require, just like stocks, the patience, discipline, and planning that you would give any endeavor that would cost you money.
Good Luck, Good Trade! -- I Made 20,000 Dollars In One Speculation
Mr. Burns take you through the step by step. I enjoyed it and walked away with a far better understanding and concept on how to trade options. -- Good read, very informative
I really enjoy going through the math to help me understand the procedure. I am only through 1/3 of the book and I think I have come across one error. Page 41 line 7 should be: $160.00 or 21.3%.
The other authors just cannot understand that a picture is worth a thousand words! -- The trade examples really help.
I have found this book very helpful. Some aspects of options trading were confusing, but this book did a good job of teaching the nuts and bolts and the thought processes involved in making successful trades. -- Trading Stock Options: Basic Option Trading Strategies And How I've Used Them To Profit In Any Market
I LOVE Trading Stock Options. I wanted to get a basic understanding of how I might be able to use stock options to gain profit, and this was the best book I found so far. It was easy to understand and very well written. It will be helpful to just about anyone who is interested in learning the subject. What a great resource. -- AWESOME!!! Great resource
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