Book Description
In order to survive and thrive in today's financial markets, you must seriously consider the use of options in your investment endeavors. Options allow you to reap the same benefits as an outright stock or commodity trade, but with less risk and less money on the line. The truth is, you can achieve everything with options that you would with stocks or commoditiesat less costwhile gaining a much higher percentage return on your invested dollars.
After numerous years as a market maker in the trenches of the New York Mercantile Exchange, few analysts know how to make money trading options like author Lee Lowell. In this well-rounded resource, Lowell shows both stock and commodity option traders exactly what works and what doesn't.
Filled with in-depth insight and expert advice, Get Rich with Options provides you with the knowledge and strategies needed to achieve optimal results within the options market. The book quickly covers the basicshow options are priced, strike price selection, the use of Delta, and using volatility to one's advantagebefore moving on to the four options trading strategies that have helped Lowell profit in this arena time and again: buying deep-in-the-money call options, selling naked puts, selling option credit spreads, and selling covered calls. Using these strategoes decisively, he says, is the fastest route to riches in the options trading game.
Get Rich with Options is packed with real-life examples of actual trades and detailed discussions of how options can be used as a hedging, speculating, or income-producing tool. You'll learn how to set up a home business with the best options trading software, tools, and Web sites. And you'll begin to see options in a whole new light and discover how to become part of a small group of investors who consistently win.
Customer Reviews:
A little hype-y, but a very good introduction on how to use options..........2007-08-29
The majority of books I've read on investing in the stock market are focused on buying and selling of actual shares of stock. I vaguely know of options, using puts and calls to leverage blocks of stock for small amounts of capital. But Get Rich With Options: Four Winning Strategies Straight from the Exchange Floor by Lee Lowell does a good job in explaining how that all works, and how best to structure your option trading to incur minimal risk and maximum gain. It just takes a little bit to get past the "over the top" title...
Contents:
Part 1 - The Option Basics: It's All About the Calls and Puts; How Options Are Priced; Option Volatility; Stocks versus Options; Why Option Selling Is Your Key to Success
Part 2 - The Strategies: Buy All the Stock You Want for Half the Price; Getting Paid to Buy Your Favorite Stock; Option Credit Spreads - The All-Star Strategy; A Day in the Life of the Market Maker; Put Your Stocks to Work - Sell Covered Calls; A Bonus Strategy - Ratio Option Spreads
Part 3 - Getting Ready to Trade: Tools of the Trade; Brokers and Commissions
Conclusion; Index
Lowell has experienced the option trading life as both a member of a brokerage firm and as an independent trader. His experience comes into play in the book, as there are detailed analyses of some of his trades that illustrate the different strategies. Part 1 was perfect for someone like me who has heard of options, and perhaps knows the bare basics, but doesn't understand why and how they are priced. Now all those things like volatility and deltas make sense. Part 2 is where he gets into the strategies he uses to buy and sell options. A couple of them are pretty easy to understand once you have the basics down (like the covered calls). In fact, it's hard to imagine why more people don't do that. A few seemed more complex and confusing, such as the ratio option spreads. Perhaps with a few more readings, it might have sunk in. But I'm not sure I was prepared by the end of the book to execute those strategies...
The main knock I have against this book is that everything's successful and works in his examples. He's pretty clear as to where the risk lies in each of the strategies. And it's easy to see how options *do* mitigate your potential loss risk while giving you a much better chance of walking away with some profit. But unless you're trading thousands of option contracts with plenty in your brokerage account to cover your exposure, the average trader is going to be walking away with a few hundred or so in profit from these techniques. Not quite "rich", but far better than watching your stock plummet or stagnate over the years. And I *really* would have liked to see him show some of the trades that *didn't* go well. He alludes to nothing being perfect or a sure bet, but you certainly won't see him dwell on the imperfections here...
Overall, this is a good book that covers a complex topic in an understandable fashion. I would have preferred a bit less hype and salesmanship, but it's not so bad as to detract from some good information and advice.
easy to understand.......2007-08-23
I recommend this book for anyone interested in learning about options. It is easy to read and understand and will give you a good foundation.
great for more conservative investors interested in options.......2007-08-12
I thought this book did an excellent job of explaining some more conservative option strategies - such as buying a deep in the money call instead of buying the stock outright. Covered calls and put-sells are also covered plus 2 other strategies I doubt I would ever use. This book does not go into exotic and very risky option techniques. By the way, the title just does not fit the book.
I loved this book!.......2007-07-27
I recently started trading options successfully. The book is right on the money! As it clearly states, you must be right on the time and direction of the market, guessing won't cut it, unless you opt for the delta neutral strategies. I've read many options books and this one is the one I like the most, I highly recomend it.
Worth reading but lacks specifics.......2007-07-12
Mr. Lowell presents useful discussions of option basics as well as his favorite option trading strategies. He gives many examples of profitable credit spread trades, although all involve options on futures rather than securities. There is no explanation as to why options on securities are not included. I was also left wanting for some specifics on how he selects spreads with the highest expectation for returns, and how the he determines when to exit the spread trades prior to expiration. The information on available internet data sources is very good.
Book Description
This clear, concise, and practical guide explains how to use agricultural options as a safe, effective component of any trading portfolio. Outlining different strategiesbased on whether traders are seeking to reduce risk, increase income, or control costsit provides nuts-and-bolts examples and techniques for effective use of these versatile tools. It also covers option basics, special software, the differences between hedging and trading strategies, understanding price behavior and the importance of volatility, and more.
Customer Reviews:
OK but too basic on ags ..........2004-06-23
I had great expectations of this book and thought that it would be a good primer to understanding ags futures, their behaviour & ideas (seasonality, calendar spreads, etc) on how to exploit them. However, it is more the traditional academic introduction on how to hedge ags futures, and the knowledge is very similar to any other options book. It is a good book for beginners & has some interesting intermediate strategies to explore. Well written but as an advanced options user, it adds little to persons who already knows futures & options in depth.
Product Description
The world's leading hedge funds turn to Ari Kiev when they need to fine-tune their trading performance. Now, you can, too, with this powerful new video presentation. This interactive workshop outlines all the methods he trains professionals to adopt, including exercises to help keep emotions in check, stay on a disciplined track - and make trading decisions guided by strategy rather than by an elevated stress level. Let the popular Trading to Win author show you how to remain a cool, strategic
Every trader has, at some point, let emotions guide their trading - usually resulting in costly results. The most successful traders will even tell you that the discipline they were forced to embrace as a result, was the key to their future trading success. Now, Trading to Win author Dr. Ari Kiev brings his personal coaching workshop into your own home, so you can develop the skills it takes to be a cool, collected, and consistently successful trader.
This interactive course will help you remove the emotional component involved in making buy/sell decisions. He'll coach you on the best ways to deal with the stress, anxiety, and adrenaline rush that's a by-product of daily market activity. And you'll learn the same methods he's trained thousands of professional traders to employ as they triumph over the psychological problems
learn to:
· Trade less emotionally, and more strategically.
· Identify the major stress triggers in trading.
· Recognize - and overcome - the psychological habits that keep you from achieving maximum performance.
· Be honest with yourself - rather than masking your trading anxieties.
· Reduce the influence of greed by setting targets - and learning to stick to them.
You'll find winning methods for resolving problems when working with a trading partner, and learn to challenge yourself without also elevating your level of stress. Leading hedge funds turn to Kiev when they need to master emotions on the path to consistent trading success
Book Description
"Covered Call Writing With Qs And Diamonds: Double-Digit Returns on Ready-Made Portfolios" is not just another new book about covered call writing. It is a highly focused and readily understandable educational tool with a unique easy-to-follow implementation program. It is designed for investors who either do not have the time or the desire to research individual stocks and administer such a portfolio, yet who seek an opportunity to achieve double-digit investment returns by using covered call writing.
Ownership of the ready-made portfolios available to you with the Qs (ticker symbol QQQ: the 100 largest companies on the Nasdaq) and Diamonds (ticker symbol DIA: the stocks composing the Dow Jones Industrial Average) eliminate the need for stock research. And, the call writing choices you have available to you with them are far broader than any individual stocks, making them the perfect equity investment to use in conjunction with covered call writing. The book delves deeply into the subject of how to obtain double-digit returns from both out-of-the-money calls and in-the-money calls. It also provides short-term technical analysis tools to assist in guiding market forecasts and making appropriate call writing decisions.
On May 3, 2003 after the annual meeting of his company, Warren Buffett (Chairman of Berkshire Hathaway) said to Maria Bartiromo of CNBC: "If you own equities, over the next twenty or thirty years you'll get a reasonable return...maybe its 6%, maybe its 7%. People who expect 15% a year are doomed to disappointment." If you believe that "The Oracle of Omaha" is right about a slow-growth market for decades to come, then everything that you need as an investor is here for you in this book to develop and implement a covered call writing program using two of the world's most liquid, highly diversified equity portfolios.
THE BOOK PROVIDES:
* The case for using the Nasdaq-100 Index Tracking Stock (tracks the top 100 Nasdaq stocks in market capitalization), also known as the "Qs" or "Cubes," and the Diamonds Trust Series 1 (tracks the Dow Jones Industrial Average), known simply as Diamonds, for total or substantial portfolio composition. This allows investors to achieve significantly more equity ownership diversification than from shares in individual stocks. * Details on the unique features of these two highly liquid and popular Exchange Traded Funds (ETFs) that make them ideally suitable for no hassle, easy decision covered call writing to assist in reaching consistent double-digit investment returns in a more conservative way than a buy-and-hold equity strategy.
* A detailed turnkey implementation program for call writing with the QQQ and DIA, including "out-of-the-money" calls and "in-the-money" calls, both of which can yield solid double-digit returns, when and how to effectively use them.
* Discussion on call expiration date selection to fit your needs, including the advantages of shorter-term and longer-term expirations.
* A presentation of technical analysis tools to assist investors in making short-term decisions on when to write calls, and which type of call to write.
* Use of Microsoft® Excel spreadsheets to assist in reviewing covered call writing selection alternatives and tracking your results so that the best decisions for you are reached to achieve your investment return goal.
* Use of margin, if appropriate for you, to potentially almost double the returns from covered call writing on these ready-made portfolios.
* Details about brokerage accounts, with special emphasis on the use of online discount brokerages for quick, very low cost execution of trades. Web sites for brokerages, charting sources and other technical information are provided.
* Presentation of the tax information you need to understand and administer the income tax aspects of covered call writing. This includes deferring taxation of income until a later tax year while enjoying the use of the income now.
With interest rates so low and a scarcity of acceptable investment alternatives available to investors, covered call writing on diversified portfolios such as the Qs and Diamonds may offer one of the best possible opportunities to achieve double-digit investment returns in the slow-growth market we seem sure to encounter ahead.
Customer Reviews:
The 12% Problem.......2007-02-13
If you want to find out how to take 12% out of the market in cash per year, this book is for you. It's clear, concise and comes with instructions on how to create P/L templates on Excel. In addition, they'll send everything you need to get started on Excel in your email for free. The book set-up moves from simple on to complicated, lots of graphs and plenty of examples. My problem, which may be not a problem for others, is that pesky 12& gain per year. If you've got plenty of investible capital, that might be enough. But, if you don't, it isn't. For me, an annual return of 12% just isn't enough when you figure in your time and trading fees and the fact that you're essentially selling covered calls on the underlying Qs and Diamonds. On the other hand, Kadavy states up front that this is a 'conservative' approach to using options. The best thing about this approach is that you no longer have to chose from the confusing universe of optionable securities, all you use here are QQQQ and DIA. Simple and conservative.
Loving it........2007-01-11
It was a my husband's favorite Christmas present. This is his favorite strategy - he has really been enjoying the book. He says all you need is a minimum of one thing you didn't know to catapult you farther - this had many more than one! Thanks.
Covered Call Writing with Qs and Diamonds.......2006-11-10
A primer on options, having little to do with Qs, Diamonds, other than that is the vehicle. Not sure you need to buy book to see benefit of diversification in underlying asset -all other risk aspects remain the same.
VERY USEFUL & PROFITABLE BOOK.......2004-01-05
A friend of mine who took a college class about covered call writing taught by the author recommended this book. It was a real eye opener for me, as I hadn't had any exposure to covered calls before as is probably true of most people. I have enough assets to comfortably invest in the stock market, but not enough to diversify adequately through individual stocks. The discussion about the Nasdaq-100 Index Tracking Stock (QQQ) and the Diamonds-Dow Jones Average Tracking Stock (DIA)solved this problem for me. At a time when I have no confidence in mutual funds, I was able to use these two Exchange Traded Funds as the foundation for my investment portfolio. They ideally suit my risk profile. The ability to write covered calls on them was icing on the cake. I've written two sets of calls so far, so now I can appreciate the simple beauty of this investment strategy through firsthand experience. It worked out great. I also plan to study the chapter on technical analysis in more detail to help plan timing decisions in the future on whether to write out-of-the-money or in-the-money covered calls. Fortunately the book does an excellent job of making all of this completely intelligible for an investor at any level of understanding about the markets. The covered call feature creates an immediate stream of income and provides protection in case of a downturn in the market. I highly recommend this book for any investor who is looking for a better way to achieve investment goals rather than just owning mutual funds or stocks alone. Owning the Qs and Diamonds is a great way to participate in the stock market and get instant diversification through one or two securities. Also, the income from covered call writing is just what I needed to supplement my other income sources.
Book Description
Who gets stock options? How many? How often? And when? Many companies and professional advisors are familiar with how employee stock option plans work, but they lack detailed information on how companies are actually designing and using their plans. This 498-page book describes and analyzes the results of a pathbreaking survey of 247 U.S. companies conducted by the leading research and information organization in the field. The book is the most comprehensive resource available to the public on how companies design stock option plans. It mainly focuses on broad-based stock option plans (i.e., those covering most employees), but also addresses executive-only plans and employee stock purchase plans.
The results presented here allow readers to make comparisons on allocation, vesting, and eligibility issues, as well as on corporate-level issues of dilution, the percentage of total option awards going to certain kinds of employees, the basis on which options are awarded, and other issues. The book provides extensive breakdowns of data by company size, industry, and region. These breakdowns provide overall plan data and also present information for various classes of employees. The results for executive plans and employee stock purchase plans (ESPPs) are presented separately in these breakdowns. Other chapters discuss the data on private vs. public companies, technology companies, companies offering one-time grants, ESPPs at companies with broad-based option plans, and how companies communicate their plans and get employees involved. Finally, the closing chapter summarizes other research in the field.
With its clear summary and analysis of overall results; its detailed breakdowns by industry, company size, and region; and its comparisons of public and private companies, this book is an essential tool for any company or consultant involved with employee stock options or related plans. It is spiral-bound for ease of use.
Product Description
How to Make Money with Stock Options is an introduction for the conservation, non-professional investor to the strategies used by professional investors to increase yield on investment through the use of stock options. Beginning with the basic elements of the differences between stocks and options, Mr. Hecht gradually moves the reader to the advanced stages of options strategies, including buying and selling puts and calls, spreads, and buy-writes. Throughout the book the emphasis is on conservative strategies, and an understanding of what makes particular strategies risky or conservation (and what those terms mean). The author includes practical sections on mitigation of losses and hedging, and helpful diagnose of common psychological pitfalls that sometimes influence our decision making in the market. Finally, there are sections giving practical advice specifically to stock brokers and layers handling option-related cases. How to Make Money with Stock Options makes this complex subject manageable for the average investor who wants to increase his or her investment return while maintaining a conservative posture.
Customer Reviews:
John's Review.......2007-04-11
Another Gem! Do NOT speculate in options witout reading this first! Buy calls and puts with the LOWEST possible 6 month implied volatility, sell calls and puts with the HIGHEST 6 month implied volatility! Also, pick high volume, therefore highly liguid options with the LOWEST bid/ask spreads tro maximize returns! These are some of the most important things I learned.
Go with a pro.......2006-08-13
Once again Mervyn Hecht makes understanding stock options easy to understand - and easy to use as a tool for making money. Having known Mervyn Hecht professionally for many years, it was no surprise that his third edition was once again a winner - a book one would want to own if you were interested in making money through stock options. Mervyn writes very clearly and to the point. His credentials and experience are outstanding. I would recommend this book for anyone interested in stock options.
It's not speculating.......2006-04-14
I thought Merv Hecht's book How to Make Money with Stock Options was an extremely thoughtful, useful, well written book for the conservative investor who wants to make more money from his or her stock portfolio. Hecht makes clear that options are not just for speculators, that an intelligent conservative strategy can be developed which adds considerably to income. He explains, provides the tools, and the Third Addition includes very useful software to track trades and prepare for tax time.
Traders' Delight.......2006-03-08
The third edition is a traders' delight. As an educator I look for books that can be useful for investors at all levels. The author gives invaluble tips for beginners and loads of advice for seasoned traders.
A new addition this time is tracking software that quite handy
A valuable and easy-to-understand primer.......2001-03-21
Especially in these volatile times in the stock market, Hecht's book is extremely valuable reading for investors. Using plain language, Hecht explains how investors can hedge and pursue less risky strategies with stock options. Those who have some familiarity to investing in the stock market will have no trouble understanding Hecht's presentation of what is often difficult material. His book makes it easy for conservative investors, and those who want to pursue less risky approaches, to make stock options a part of their investment strategy. Thanks to Hecht's book, stock options are now an integral part of my approach to the market, and I'm benefitting handsomely.
Customer Reviews:
A very good book.......2003-12-29
It's a small paperback but it packs in a LOT of useful information!
I bought this book back in 1994 when I was studying for my Series 7 NADA exam.
It's went for $4.95 and has 87 pages. So why is it a great little book?
First of all it goes straight to the point! It clearly explains puts, calls, basic strategies, tax considerations etc.
Plenty of examples that detail what the option is and why you would want to write or purchase a certain type of option.
If you read some of the much more expensive books on options and cut out all of the unnecessary b.s. you could create a small summary of important information. This essentially is what this book does.
Now that the market is starting to come back - and you are considering options as an investment - get a hold of this little book. The author says more in 2-3 pages than other authors who add a lot of 'fat'.
Longmeadow Press should seriously consider re-issuing this book.
Average customer rating:
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Winning With Options: The Smart Way to Manage Portfolio Risk and Maximize Profit
Michael C. Thomsett
Manufacturer: AMACOM/American Management Association
ProductGroup: Book
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ASIN: 0814400337 |
Book Description
Options are an integral part of any financial portfolio, but they can be intimidating to the average investor. While often viewed as risky, the truth is that, if used properly, options can be one of the best tools for balancing a portfolio. In fact, they can help investors protect themselves from downside risk and leverage capital to make bigger plays than would otherwise be possible. In Winning with Options, Michael C. Thomsett offers nontechnical, easy-to-follow advice for readers who need guidance on important techniques related to portfolio management, such as diversification and risk management. Readers will discover how to:
* choose the right brokerage firm * use online resources * pick the right stocks * track options * set portfolio and risk goals * understand the complicated world of options lingo * make the most of day trading and swing trading
Straightforward and practical, this is the one book that will help the novice option trader navigate the sometimes daunting, but often rewarding, world of trading and investing in options.
Product Description
Debra Koontz Traverso is a freelance writer and business consultant. She advises businesses on crisis management and over the years has worked with such companies as United Airlines, Dow Chemical, Coopers & Lybrand, London Fog, Nike, NASA, and UPS. She is also an adjunct professor at Harvard University where she lectures on communications and crisis management. Previously, she worked as a reporter, editor, and public relations specialist. Don Taylor, co-author of Up Against the Wal-Marts This book has it all. Common sense ideas you can use right now, technology tips for the future, and an easy-to-read, motivating style. Outsmarting Goliath is a must-read for every small business owner who doesn't want to stay small. comments: I have played a lot of sports going through school and each of my coaches at all levels have always stressed fundamentals and then gone on to teach advanced theories and plays . In reading Outsmarting Goliath I am struck with the degree to which the author has gone to stress the fundamentals of a healthy small business, and then moved on to add tremendously helpful, simple and yet sophistocated ideas. Bartering! What a great idea I would have never thought of. I bartered to get a new phone system with voice mail and it cost me less than 1/3 of the purchase price, and there was no tax! Her down to earth and sometimes funny anecdotal accounts of small business owners who have tripped or succeeded have provided me with a treasure trove of wonderful tips and ideas, some of which I have already implemented. I will add more over time.
list price $19.95
Learn candlestick charting from a trading master! Steve will take you through the basics of candlestick charting and spotting early reversal signs in this informative audio tape. A great supplement to his best-selling title 'Japanese Candlestick Charting Techniques' and his video workshop 'Strategies for Profiting with Japanese Candlesticks'.
list price $19.95
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