Options for the Beginner and Beyond: Unlock the Opportunities and Minimize the Risks

( 7 )

Overview

Brief, carefully paced lessons on options and trading strategies using verbal definitions and many trading examples for clarification. Each lesson builds on the one preceding it and explains options in plain English, from start to finish. Step-by-step coverage of controlling risk, protecting your investments -- even advanced strategies other introductory books ignore! Authored by Dr. W. Edward Olmstead, contributing editor to The Spear Report and editor of The Options Professor ...

See more details below
Available through our Marketplace sellers.
Other sellers (Hardcover)
  • All (8) from $18.00   
  • New (3) from $38.94   
  • Used (5) from $18.00   
Close
Sort by
Page 1 of 1
Showing All
Note: Marketplace items are not eligible for any BN.com coupons and promotions
$38.94
Seller since 2010

Feedback rating:

(173)

Condition:

New — never opened or used in original packaging.

Like New — packaging may have been opened. A "Like New" item is suitable to give as a gift.

Very Good — may have minor signs of wear on packaging but item works perfectly and has no damage.

Good — item is in good condition but packaging may have signs of shelf wear/aging or torn packaging. All specific defects should be noted in the Comments section associated with each item.

Acceptable — item is in working order but may show signs of wear such as scratches or torn packaging. All specific defects should be noted in the Comments section associated with each item.

Used — An item that has been opened and may show signs of wear. All specific defects should be noted in the Comments section associated with each item.

Refurbished — A used item that has been renewed or updated and verified to be in proper working condition. Not necessarily completed by the original manufacturer.

New
2006-03-30 Hardcover New Brand New, Gift condition. We Ship Every Day! Free Tracking Number Included! International Buyers Are Welcome! Satisfaction Guaranteed!

Ships from: Skokie, IL

Usually ships in 1-2 business days

  • Canadian
  • International
  • Standard, 48 States
  • Standard (AK, HI)
  • Express, 48 States
  • Express (AK, HI)
$39.11
Seller since 2007

Feedback rating:

(543)

Condition: New
2006-03-30 Hardcover New Hardcover w/ DJ. You are buying a Book in NEW condition with very light shelf wear. Buy it Now! ! !

Ships from: Wilmington, NC

Usually ships in 1-2 business days

  • Canadian
  • Standard, 48 States
  • Standard (AK, HI)
  • Express, 48 States
  • Express (AK, HI)
$115.00
Seller since 2014

Feedback rating:

(113)

Condition: New
Brand new.

Ships from: acton, MA

Usually ships in 1-2 business days

  • Standard, 48 States
  • Standard (AK, HI)
Page 1 of 1
Showing All
Close
Sort by

Overview

Brief, carefully paced lessons on options and trading strategies using verbal definitions and many trading examples for clarification. Each lesson builds on the one preceding it and explains options in plain English, from start to finish. Step-by-step coverage of controlling risk, protecting your investments -- even advanced strategies other introductory books ignore! Authored by Dr. W. Edward Olmstead, contributing editor to The Spear Report and editor of The Options Professor newsletter.

Read More Show Less

Editorial Reviews

From the Publisher

Trader, professor and editor of a successful options newsletter Olmstead consolidates his vast knowledge and experience into this accessible guide to options.

Appropriate for both beginners and more seasoned investors, this book covers everything from the basics of call and put options to advanced topics like delta-neutral trading and the Black-Scholes formula. Because buying options is cheaper and less risky than buying stocks, these time-limited investments are a great way to increase profits. Olmstead is a natural teacher, employing a concise, no-nonsense and easy-to-understand style. Readers will learn why “time is money,” how to use vertical spreads, how options can cut your tax bill and how to make profits even when you can't predict the market direction. Most importantly, Olmstead teaches how to “think like an option trader,” providing the market acumen necessary to maximize profit.

Sure to be appreciated by options traders of all levels.

--Kirkus Reviews, Vol. 3, Issue 3 (March 31, 2006)

Read More Show Less

Product Details

  • ISBN-13: 9780131721289
  • Publisher: FT Press
  • Publication date: 3/24/2006
  • Series: Financial Times (Prentice Hall) Ser.
  • Edition description: 1ST
  • Pages: 256
  • Product dimensions: 6.32 (w) x 9.24 (h) x 0.92 (d)

Meet the Author

Dr. W. Edward Olmstead is the editor of The Options Professor, one of the world’s leading newsletters on options trading. He is also an options analyst for Spear Capital Management. He has consulted on short-term trading strategies with a member company of the Chicago Mercantile Exchange.

Dr. Olmstead is Professor of Applied Mathematics in the McCormick School of Engineering and Applied Sciences at Northwestern University. He has taught courses that cover both the theory for options pricing and practical strategies for trading options. Dr. Olmstead has received several awards including an endowed chair for teaching excellence and has been praised by his colleagues as “the quintessential teacher in our midst.”

Read More Show Less

Read an Excerpt

PREFACE

This book is intended for people who are just starting to learn about options as well as for those who want to advance their basic knowledge to a higher level. Much of the material in this book has previously appeared in a series of articles written for The Options Professor, a monthly online newsletter about options trading, published by Independent Investor, Inc., Bloomfield, Connecticut. Some of the material was originally developed by the author for a course on options pricing theory taught at Northwestern University, Evanston, Illinois.

Section I includes Chapters 1 through 9. These chapters contain fundamental information about options, mainly intended for the beginner. Those who have some experience with options may still find it worthwhile to skim through Section I to fill some gaps in their knowledge.

Section II includes Chapters 10 through 25. Each chapter in this section is devoted to a strategy that goes beyond the basic trade of owning a call or a put option. Some chapters are an advanced continuation of the strategy introduced in the preceding chapter. The advanced chapters are marked with an asterisk and can be passed over by beginners during their first reading of this book.

Section III includes Chapters 26 through 30. Each chapter in this section covers a topic that is intended for people with options experience who want to develop a broader background. All of these chapters are marked with an asterisk, so this whole section can be passed over by beginners during their first reading of this book.

The method of exposition in this book is primarily through example. The options concepts in each chapter are introduced and discussed in the form of example trades. Many of the examples are illustrated with risk graphs, which serve to reinforce the concepts of each strategy.

All of the trades presented in the book are taken from real situations, although the prices may have been altered slightly to simplify the presentation. In most of the examples, the real stock symbol has been replaced by the mythical XYZ or ZYX, so that the reader can focus on the discussion without any distraction related to an experience with the actual stock. In some examples, the real stock symbols have been used because it seemed particularly important to the discussion.

© Copyright Pearson Education. All rights reserved.

Read More Show Less

Table of Contents

CONTENTS

Acknowledgments

About the Author

Preface

Section I:  BasicConcepts

  • 1: Introduction
    • Why Options?
    • The Basic Concept of Options
      • Major Differences Between Stocks and Options
      • Leverage
      • Time Limitation
      • Price Movement
      • Financial Risk
    • A Detailed Explanation of Options
      • The Option Contract
      • The Call Option
      • The Put Option
    • Comments
  • 2: Option Selection
    • What Is a Cheap Option?
    • Selecting a Call
    • Overall Evaluation
    • Selecting a Put
  • 3: Entering and Exiting Option Trades 
    • Entering a Trade
    • Exiting a Trade
  • 4: The Greeks
    • Delta
      • Computing the Delta of a Call Option
      • Application of the Delta
      • Computing the Delta of a Put Option
    • Theta
    • Gamma
    • Vega
    • Rho
  • 5: Risk Graphs
    • Single Option Trade
    • Multiple Option Trade
      • Comments
  • 6: LEAPS
    • Comments
  • 7: Assignment Anxiety
    • Comments
    • Applications
  • 8: Broker Selection
    • Types of Brokers
    • Commissions
    • Trading Platform
    • Margin and Trading Limitations
    • Live Broker Assistance
    • Comments
  • 9: Miscellaneous Tips
    • Time Is Money
    • Trading with the Trend
    • Risk Capital for Options Trading
    • Tracking Trades
    • Anticipating Events
    • Real-Time Quotes
    • Market Orders with Options
    • Options Calculator

Section II:  TradingStrategies

  • 10: Vertical Spreads
    • Debit Vertical Spreads
      • Bull Call Spread
      • Bear Put Spread
      • Comments
    • Credit Vertical Spreads
      • Bull Put Spread
      • Bear Call Spread
      • Comments
  • 11*: Event-Producing Credit Spreads
    • Comments
  • 12: Calendar Spreads
    • The Rollout Maneuver
    • Comments
  • 13*: Advanced Calendar Spreads
    • Volatility Skew Trades
      • Comments
    • Ratio Calendar Spread Trades
      • Comments
    • Deep-in-the-Money LEAPS Put Calendar Spreads
    • Diagonal Calendar Spread Trades
  • 14: Covered Calls
    • An Idealized Trade
    • A Realistic Trade
    • Covered Call vs. Naked Put
    • Comments
  • 15: Straddles and Strangles
    • The Straddle Trade
      • Comments
    • The Strangle Trade
  • 16: Stock Repair and Stock Enhancement
    • Stock Repair Strategy
    • Comment
    • Stock Enhancement Strategy
  • 17: Married Puts
    • Comments
  • 18: Collars
    • Comments
  • 19*: Advanced Collars
    • Comments
  • 20: Naked Option Writing
    • The Risk of Naked Option Writing
    • Acquiring Stock with Naked Puts
  • 21: Stock Substitutes
    • Synthetic Long Stock
    • Comments
    • Deep-in-the-Money Put
    • Deep-in-the-Money Call
  • 22: Backspreads
    • Comments
  • 23: Butterfly Spreads
    • Standard Butterfly Trade
      • Comments
    • Butterfly Trade with Adjustments
      • Comment
    • Unbalanced Butterfly Trade
  • 24: Iron Condors and Double Diagonals
    • The Iron Condor Trade
    • The Double Diagonal Trade
    • Comments
  • 25: An End-of-Year Tax Strategy
    • Tax Code Restrictions
    • Qualified Covered Calls
      • Basic Strategy
      • Follow-Up Variations
      • Comments

Section III  SpecialTopics

  • 26*: Day Trading an Index with Options
    • Comments
  • 27*: Delta-Neutral Trading
  • 28*: Theory of Maximum Pain
  • 29*: Implied Volatility and the Black-Scholes Formula
    • Historical Background
      • Derivation of the Black-Scholes Formula
      • Application of the Black-Scholes Formula
    • Implied Volatility
    • Applications of Implied Volatility
    • Comments
  • 30*: THE PUT-CALL PARITY RELATIONSHIP
    • Calls Cost More Than Puts
    • Applications of Put-Call Parity

?*Chapters with more advanced content are marked with an asterisk and can be passed over by beginners during the first reading of this book.

Read More Show Less

Preface

PREFACE

This book is intended for people who are just starting to learn about options as well as for those who want to advance their basic knowledge to a higher level. Much of the material in this book has previously appeared in a series of articles written for The Options Professor, a monthly online newsletter about options trading, published by Independent Investor, Inc., Bloomfield, Connecticut. Some of the material was originally developed by the author for a course on options pricing theory taught at Northwestern University, Evanston, Illinois.

Section I includes Chapters 1 through 9. These chapters contain fundamental information about options, mainly intended for the beginner. Those who have some experience with options may still find it worthwhile to skim through Section I to fill some gaps in their knowledge.

Section II includes Chapters 10 through 25. Each chapter in this section is devoted to a strategy that goes beyond the basic trade of owning a call or a put option. Some chapters are an advanced continuation of the strategy introduced in the preceding chapter. The advanced chapters are marked with an asterisk and can be passed over by beginners during their first reading of this book.

Section III includes Chapters 26 through 30. Each chapter in this section covers a topic that is intended for people with options experience who want to develop a broader background. All of these chapters are marked with an asterisk, so this whole section can be passed over by beginners during their first reading of this book.

The method of exposition in this book is primarily through example. The options concepts in each chapter are introduced anddiscussed in the form of example trades. Many of the examples are illustrated with risk graphs, which serve to reinforce the concepts of each strategy.

All of the trades presented in the book are taken from real situations, although the prices may have been altered slightly to simplify the presentation. In most of the examples, the real stock symbol has been replaced by the mythical XYZ or ZYX, so that the reader can focus on the discussion without any distraction related to an experience with the actual stock. In some examples, the real stock symbols have been used because it seemed particularly important to the discussion.


© Copyright Pearson Education. All rights reserved.

Read More Show Less

Customer Reviews

Average Rating 3
( 7 )
Rating Distribution

5 Star

(0)

4 Star

(1)

3 Star

(4)

2 Star

(2)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously
Sort by: Showing all of 7 Customer Reviews
  • Anonymous

    Posted January 15, 2010

    Good book for a beginner.

    I would recommend it to anybody who is interested in options.

    1 out of 1 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted May 17, 2010

    No text was provided for this review.

  • Anonymous

    Posted July 15, 2011

    No text was provided for this review.

  • Anonymous

    Posted April 17, 2010

    No text was provided for this review.

  • Anonymous

    Posted April 6, 2013

    No text was provided for this review.

  • Anonymous

    Posted July 7, 2012

    No text was provided for this review.

  • Anonymous

    Posted July 27, 2011

    No text was provided for this review.

Sort by: Showing all of 7 Customer Reviews

If you find inappropriate content, please report it to Barnes & Noble
Why is this product inappropriate?
Comments (optional)