The Bible of Options Strategies: The Definitive Guide for Practical Trading Strategies
- ISBN13: 9780131710665
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Product Description
“Guy Cohen is the master when it comes to taming the complexities of options. From buying calls and puts to iron butterflies and condors, Guy explains these strategies in a clear and concise manner that options traders of any level can understand. His chapter on options and taxes is especially welcomed (and needed). The Bible of Options Strategies is a straightforward, easy-to-use reference work that should occupy a space on any options trader’s bookshelf.”
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The Bible of Options Strategies: The Definitive Guide for Practical Trading Strategies
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May 16th, 2010 at 1:37 am
Guy Cohen lays out just about every option strategy that you could make work, given the right market conditions and your tolerance for risk. I would certainly put this book in the “Reference Book” category — something that you would take out on occasion to answer a query about how a certain trade is placed or when it’s a good strategy to use.
I started out with the intent of reading it from cover to cover. But I have to admit that I ended up skipping a lot of the material after reading the first 100 pages or so because it gets somewhat repetitious. So this indeed makes a good reference book, say, when you hear someone mention a “Long Put Condor” and wonder what it is. Or if you forget what market conditions (volatile, neutral, etc) would be required for a Bear Call Spread to work well. Also, I do appreciate Guy’s organization of strategies by Risk/Reward, Direction, Volatility, etc. That makes it easy to get a short list of strategies given your own trading style and the market conditions.
What I found missing that I wish was there is information like how far from Option Expiry should this strategy be placed, what is an optimum range of IV for the underlying stock for each type of strategy, when should the strategy be repaired or exited? How do you repair it, or leg in or out successfully?
Also, I still do not understand what the little charts mean at the end of each strategy. I understand that they represent some kind of profile for each of the greeks, but there’s no scale or indicators on the axes, nor can I find an explanation of what the dotted, dashed and solid lines mean. Maybe it’s just me, since I’ve only been trading options for about a year now. If you’re an experienced option trader, you’ll probably know what they mean.
Rating: 4 / 5
May 16th, 2010 at 4:27 am
Options trader Guy Cohen has captured the beauty of options as a flexible trading vehicle with this book.
He reduces more than 60 options strategies strategy into five key areas:
1. Income strategies
2. Volatility strategies
3. Sideways market strategies
4. Leveraged strategies
5. Synthetic strategies.
Even the newest trader will find his insightful explanations of the most complex strategies clear and concise. This would be the book to have by your side if you were looking for a definitive guide to contemporary options trading if it were not so poorly edited. The mistakes distract from what would be a masterpiece on options trading.
Rating: 4 / 5
May 16th, 2010 at 5:16 am
While I think this book has useful information in it, so far I’ve been disappointed because it is riddled with typos. There were several typos in the preface, and once I got into the book the typos continued.
It’s as if it was proof read by a non-native speaker, or wasn’t proofed at all. Some of them aren’t simply grammatical typos either, for instance call was used where
put was the topic.
Having said that the book is improving my bottom line by giving me some useful ideas for options trading. It’s a definite plus for the library of an options trader.
Michelle Ress
Rating: 3 / 5
May 16th, 2010 at 6:18 am
This book is an outstanding resource for both bginners and novices. There are so may examples and strategies that it is clearly a true resource that will be used over and over again. This book has the unique ability of TEACHNG the beginners the risks, rewards, and “How To’s” which I wish all the books I have purchased had provided. My copy is now two years old and looks like an old rag because of the references I use it for. If anyone is thinking of trading oprions, this book should be required reading.
Don’t spend your time looking for a better tool. This one will have 90% of the answers you will need to understand option strategies, terms, and risk reward charting.
Rating: 5 / 5
May 16th, 2010 at 6:50 am
A no-nonsense, no-introductory-material reference library of option strategies. Cross-referenced by goal, risk tolerance, strategy type, name, and more. Herein one easily can find each strategy described with its theoretical outcomes, its benefits, and its drawbacks. Order entry and exit procedures and Greeks also accompany each strategy.
For an introduction to options investing, see the author’s prior book.
Rating: 5 / 5