The Complete Guide to Option Strategies [Hardback]Advanced and Basic Strategies on Stocks, ETFs, Indexes and Stock Index Futuresby Michael Mullaney
Usually ships within 2 to 4 working days Description of The Complete Guide to Option StrategiesThe Complete Guide to Option Strategies shows you how options can be used to prosper under many market conditions, take advantage of time decay, and limit risk. This comprehensive guide describes numerous risk management techniques in a manner that makes them accessible even to non–professionals.Author Mike Mullaney shows that you do not have to work for a large Wall Street brokerage firm or trade on the floor of an exchange to understand options. This is a must–own book if you are serious about trading options. No investment strategy is risk–free, but the risk–reward profile of options can be attractive if you understand how to properly employ them. There are many opportunities for today′s trader to benefit from the power of options, and The Complete Guide to Option Strategies will show you how. The traditional buy and hold strategy only profits if the underlying investment moves in one direction: higher. While that strategy worked for years, many traders and investors are looking to find new ways to increase their returns, improve chances of success, and manage risk. Using options wisely can be a way to do just that. As you learn about options, you should be able to identify strategies that you like the best, in view of your profit objectives and risk profile. People who bought this book also boughtTitle Information
Write a review of this book Customer Reviews from AmazonAbout Michael MullaneyMichael D. Mullaney has traded equity and futures options utilizing a broad range of strategies and instruments, including options on stocks, stock and bond ETFs, indexes, and stock index futures. Mullaney executes option buying and selling strategies but concentrates most of his efforts on writing far out-of-the-money options by using strategies that can profit in rising, declining, and sideways markets. Mullaney is a principal of a commodity trading advisor and a certified public accountant. He has been interviewed on national business radio, featured by national trading magazines, was formerly a partner at KPMG, vice president of a corporate tax department, instructor for a law school course, contributor to a book on taxation, and author of six articles on merger and acquisition issues. He can be contacted at mmullaney@miminvestments.com.Contents of The Complete Guide to Option StrategiesPrefaceAcknowledgments Part One. Learning the Fundamentals 1. Getting Ready to Trade Why Trade Options? What is an Option? Defining Key Terms Final Thoughts 2. Option Fundamentals Entering an Option Order Option Buying Option Writing (Selling) Learning How to Roll Standard Option Cycles Finding Option Prices Final Thoughts 3. What Determines an Option's Price? Overview Forecasting Option Prices Final Thoughts 4. Tools of The Trade - Greeks Overview: Greek Basics Position Greeks Greek Software Converting an Option Chain to Greeks Beyond the Basics Final Thoughts 5. Buying Versus Selling Overview Comparing Long and Short Options Option Buying Option Selling Bullish versus Bearish Learn How to Roll Final Thoughts 6. Understanding Spread Terminology What is a Spread? Spread Buying versus Selling Spread Strategies Summary Final Thoughts Part Two. The Four Basic Option Strategies 7. Long Calls Overview Beyond the Basics Final Thoughts 8. Long Puts Overview Beyond the Basics Final Thoughts 9. Short Calls Overview Beyond the Basics Final Thoughts 10. Short Puts Overview Beyond the Basics Final Thoughts Part Three. Spread Strategies 11. Vertical Spread Overview Beyond the Basics Final Thoughts 12. Iron Condor Overview Beyond the Basics: S&P 500 Futures Options Final Thoughts 13. Front (Ratio) and Back Spreads Overview Beyond the Basics: Debit versus Credit Final Thoughts 14. Straddles and Strangles Overview Beyond the Basics Final Thoughts 15. Butterfly Spreads Overview Beyond the Basics Final Thoughts 16. Condor Spreads Overview Beyond the Basics Final Thoughts 17. Calendar Spreads Overview Beyond the Basics Repeating the Process Final Thoughts 18. Diagonal Spreads Overview Beyond the Basics Final Thoughts 19. Covered Calls Overview Beyond the Basics Final Thoughts 20. Combinations Overview Beyond the Basics Final Thoughts 21. Collars Overview Beyond the Basics Final Thoughts 22. Covered Combinations Overview Beyond the Basics Final Thoughts Part Four. Comparing Underlying Instruments 23. Comparing Stocks, ETFs, Indexes and Stock Index Futures Overview Final Thoughts 24. ETF Options General Description What is an Exchange-Traded Fund? ETF Options Strategies at a Glance Final Thoughts 25. Stock Index Options General Description What is a Stock Index? Index Options Volatility Skew Strategies at a Glance Final Thoughts 26. Stock Index Futures Options General Description What is a Futures Contract? Stock Index Futures Options Strategies at a Glance Bonus Section: Short Strangle Final Thoughts Part Five. Advanced Topics 27. Assessing Volatility Overview Implied Volatility: Expressed as Standard Deviation Comparison of Implied Volatilities How to Evaluate Volatility Volatility Skew Volatility: Changing Conditions Implied Volatility and Time Implied Volatility and Strike Price Delta Neutral Volatility Trading Consider Trading VIX Options Final Thoughts 28. Exercise and Assignment Overview American-Style Exercise European-Style Exercise Cash Settlement Automatic Exercise Spreads Likelihood of Exercise Exercise and Assignment Procedures Final Thoughts 29. Risk Management Create a Plan Develop an Edge Treat Option Trading Like a Business Protect Capital Have Exit Strategies Establish Goals Know When to Say When Margin is a Risk Gauge Understand Probabilities Use Stop Loss Orders Prudently Trade Spreads Be Careful in Strike Price Selection Avoid Selling Options Near Parity Learn How to Roll Use Delta Neutral Positions Mind the Gap Buy and Sell Underlying to Hedge Trade after Hours Be Aware of Trading Halts Trade Liquid Options Use Technical Analysis Be Aware of Opportunity Costs Final Thoughts 30. Margin Margin on Stock General Rules Sample Margin Schedule Spreads: Initial Margin Comparing Margin Cash Accounts and IRAs Margin Planning Final Thoughts 31. Placing an Order General Rules Placing an Option Order Strategy: The Multi-Step Order How to Determine a Spread Bid/Ask The Bid/Ask Hurdle Index Options Option Seller Commissions Final Thoughts 32. Taxation of Options General Rules Taxable Brokerage Account Tax Break for Broad-Based Index Options and Futures Options IRS Circular 230 Notice Final Thoughts Glossary About the Author Index |
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