Table of Contents
Preface xi
Part 1 What You Need to Know First
1 Welcome to the Options Market 3
2 How to Open an Options Account 13
3 The Fascinating Characteristics of Options 19
Part 2 Selling Covered Calls
4 The Joy of Selling (Writing) Covered Calls 35
5 How to Choose the Right Covered Call 49
6 Step-by-Step: Selling Covered Calls 59
7 Managing Your Covered Call Position 73
8 Assignment: Your Obligation to Sell 83
Part 3 How to Buy Calls
9 Introduction to Call Strategies 91
10 How to Choose the Right Call Option 99
11 Volatility and Options Pricing 109
12 Step-by-Step: Buying Calls 123
13 Managing Your Call Position 137
14 Exercise: Your Right to Buy 143
Part 4 How to Buy Puts
15 How to Choose the Right Put Option 151
16 Managing Your Put Position 161
17 Protective and Married Puts 171
18 The Collar 177
Part 5 Intermediate and Advanced Strategies
19 Credit and Debit Spreads 187
20 Buying Straddles and Strangles 219
21 Selling Cash-Secured and Naked Puts 229
22 Delta and the Other Greeks 239
23 Trading Options with ETFs, Indexes, Weeklys, and Mini-Options 251
24 Advanced Strategies 257
Part 6 Sincere Advice
25 Sheldon Natenberg: Professional Options Trader 267
26 Where to Get Help 275
27 Lessons I Learned About Options 283
Index 287
Acknowledgments 297
About the Author 299