What is Reddit's opinion of
Options as a Strategic Investment: Fifth Edition?
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51 reviews of this product found across Reddit:
Options as a strategic investment is also very good and covers so many different strategies. It’s 900 pages long, so I’d use it more as a reference for diving deeper into specific strategies rather than a sit down and read it all the way through kind of book. Options as a Strategic Investment: Fifth Edition https://www.amazon.com/dp/0735204659/ref=cm_sw_r_cp_api_glt_fabc_F2Z2R19YXVKYXCZCPARF
The others have given you answers to your specific question. All I will say is: DONT TRADE OPTIONS UNTIL YOU UNDERSTAND THEM!!!!
There is a (very long) book which I recommend you at least flick through before opening any more options trades: here
It costs $60 but that is just a fraction of what it will cost you to NOT read it.
> That is completely false. Calls offer leverage. You don't have that when simply shorting.
That is completely true.
1 dollar price increase in the underlying will be a 100 USD loss in 100 short shares, and 100 USD loss in a -1 delta call.
Do educate yourself.
https://www.amazon.co.uk/Options-as-Strategic-Investment-Fifth/dp/0735204659
> Calls offer leverage.
Yes, and it's up to you on wether you use it or not. As I said originally.
>Manage your risk with that in mind.
In other words, reserve your capital to cover that naked call to the tune of 100% - you should be at 25% of your margin deployment.
And then yes, you could 're-use' that margin if you convince yourself that pinky-swear that two investments are uncorrelated. This is iffy.
I've also come around to your way of thinking, after believing in the thetagang way.
I'm still new to options, and am currently working my way through the mammoth Options as a Strategic Investment and just finished the section on covered call writing. Some really interesting ideas. Writing OTM CC's is essentially a very bullish strategy as you are exposed to downside risk. Writing ITM CC's increases your downside protection but limits your upside potential. So when should you do it? The answer, it seems to be, is in correctly reading the market and the ticker in question, then contrasting your returns if your calls are exercised vs. returns if the SP remains unchanged at DTE.
The trader who knows how to write proper CCs while simultaneously taking a position in a ticker will make more money than with equities alone.
It's also become more and more apparent to me that most traders rarely, if ever, talk about hedging. I have been seeing it as more and more important.
I would guess that the thetagang strategy works on a personal energy-management basis. Rather than painstakingly research the market and new tickers every morning, which is exhausting, simply sell new weeklies on Thursdays for equities you already hold. I guess it works as an intermediate step for a new trader?
Spend $74.61 plus tax on this before you spend a penny on an option. Then thank me later.
Options as a Strategic Investment: Fifth Edition https://www.amazon.com/dp/0735204659/ref=cm_sw_r_cp_api_glt_fabc_3HGSGC85THG0ZHXENJ45?_encoding=UTF8&psc=1
Basic education is not enough to make a living. The market will eventually turn against you and if you don’t know how to hedge your positions, you will lose a lot of money.
I majored in business management and finance and this book was taught in one of my courses:
Options as a Strategic Investment: Fifth Edition https://www.amazon.com/dp/0735204659/ref=cm_sw_r_cp_api_glt_fabc_S3YKBQQXYZXW76YZ6KVA
It should be required reading for anyone who doesn’t want to get taken to the cleaners trading options.
This book does.
www.cboe.com has some great tutorials.
A book I often refer to can be found on Amazon:
Options as a strategic investment is the standard
Was gibt's nicht verstehen? /u/greppable777 hat
- ein Buch von McMillan über Options gelesen, also die ersten 200 Seiten. Vermutlich https://www.amazon.de/Options-as-Strategic-Investment-Fifth/dp/0735204659
- einen Kollegen mit einer BU von der Nürnberger, zu deren Maklern dieser offenbar ein großes Vertrauen hat. greppable hat höflich zugehört, und seine Meinung dazu zurückgehalten?
Ich verstehe nicht, wo da das Problem ist, die Sätze sind doch ganz in Ordnung.
Regrettably, I’m still in your “Stage 1”. Do you have any books you’d recommend? (Although I expect you’re less pedagogically archaic than me and learn via YT and investopia/optionspedia).
Do you think it’d be worth it to shell out for this bad boy? Evidently, it’s a seminal text for options.
It will teach you not only the naked shit these heathens do but also more advanced option plays all the way up to structured products
I'd love to hear more about how you got into selling options.
Any suggestions on books/articles/resources you liked or were helpful to get you where you are?
Based on a previous recommendation, I just picked up https://www.amazon.com/Options-Strategic-Investment-Lawrence-McMillan/dp/0735204659/
In addition to PapaCharlie’s recommendation, Tastytrade has a pretty great video series covering many aspects of options.
Ally has a wonderful collection of option strategies call the options playbook.
And a personal favorite book of mine really helped me grasp some of the more advanced concepts and mechanics in options trading.
Gosto bastante deste "Options as a strategic investment" (ainda que seja muito extenso). É bastante técnico mas acredito que ajuda bastante, especialmente se o foco for o investimento em derivativos.
Edit: Aconselho a compra em inglês.
Deixo aqui o link: https://www.amazon.de/-/en/gp/product/0735204659/ref=ppx_yo_dt_b_asin_title_o00_s00?ie=UTF8&psc=1
check this book
hey codex, congrats for starting a very big journey! If i were you, I'd read a few options books before you get started, and do some paper trading.
https://www.amazon.ca/Options-as-Strategic-Investment-Fifth/dp/0735204659 is one of my favourite, and shouldn't be too hard. Message me if you have more questions!
It’s a book. I ordered mine from Amazon. It’s also come down in price considerably.
Options as a Strategic Investment: Fifth Edition https://www.amazon.com/dp/0735204659/ref=cm_sw_r_cp_api_glt_fabc_4BDQZ2TD8NA5W4ZNT92H
Options as a Strategic Investment: Fifth Edition https://www.amazon.com/dp/0735204659/ref=cm_sw_r_cp_api_glt_fabc_HSBNJ2EDXVAZA6HZAC3N?_encoding=UTF8&psc=1
I'm not sure what kind of technical background you have, OP, but it may be worth looking into the technical details of options. Books like Options as a Strategic Investment or Paul Wilmott Introduces Quantitative Finance do a great job of describing the math behind options and how they're used on an institutional level. Obviously you don't need to know these things to trade options, but I felt they were a real eye-opener in terms of understanding the kind of effort or technical prowess required to be a competitive trader.
Again, it might not be fair to compare yourself to institutional traders and their methods, but it's difficult to assess how realistic it is to get good enough to make this your main source of income, and these books can give you a sense of how well you understand the landscape of the field.
Some free resources that might help:
https://www.youtube.com/c/tastytrade1 https://www.optionsplaybook.com/ https://www.theoptionsguide.com/ https://www.optionseducation.org/strategies
If you want to buy a book here are a couple:
https://www.amazon.com/Options-as-Strategic-Investment-Fifth/dp/0735204659
Hope these help.
Buy Options as a Strategic Investment. https://www.amazon.com/Options-as-Strategic-Investment-Fifth-dp-0735204659/dp/0735204659/
It is in its fifth edition. Thus, it is a good book because junk books never even make it to the second edition.
Spend a few bucks and buy Options as a Strategic Investment. https://www.amazon.com/Options-as-Strategic-Investment-Fifth-dp-0735204659/dp/0735204659/
Read the book. Take notes. Highlight the book.
(Note that the book is the fifth edition. Thus, it is a good book otherwise it would not have been updated so many times.)
/u/Silly_You9597, please do yourself a big favor. Buy yourself a copy of Options as a Strategic Investment by Lawrence McMillan. Read it. He does a very good job of explaining all the various option strategies. https://www.amazon.com/Options-as-Strategic-Investment-Fifth-dp-0735204659/dp/0735204659/
The book is in its 5th edition. This means that the author and the material is good quality (if the stuff is bad, there would not be a second, third, fourth, or even fifth edition). I have a copy of the second edition.
Just in case this isn't a shit post... just don't do anything yet and buy, and then actually read most of this:
Options as a Strategic Investment: Fifth Edition https://www.amazon.com/dp/0735204659/
Yeah I bought a book on options trading: Options as a Strategic Investment: Fifth Edition https://www.amazon.com/dp/0735204659/ref=cm_sw_r_cp_api_glt_i_G62TDXA2J9WXANEWW864
McMillan "Options as Strategic Investment" I am currently on page 110 of the book.
McMillian book, Options as Investment Strategy, best $52 bux you'd ever spend, you can thank me later, Covered Calls are in Chapter 2-3 along with spread and puts.
https://www.amazon.com/gp/product/0735204659/ref=ppx_yo_dt_b_asin_image_o00_s00?ie=UTF8&psc=1
Yes, I have a copy of this book. 😂😁
>Options as a Strategic Investment
That ^ is the literal title of the book. Check your library.
I bought a copy off of Amazon:
Withdraw it like some have suggested, take that and buy this book, you can thank me in a few years.
Invest on this book:
Options as a Strategic Investment: Fifth Edition https://www.amazon.com/dp/0735204659/ref=cm_sw_r_cp_api_glt_fabc_EVWTP617QJ2JA7CGY02K
Also Tasty Work website has plenty of material for newbies.
Ye Olde Tymers sometimes carried mystical, mysterious objects called "Bookes" - https://www.amazon.com/Options-as-Strategic-Investment-Fifth/dp/0735204659
Thank me later.
Options as a Strategic Investment: Fifth Edition https://www.amazon.com/dp/0735204659/ref=cm_sw_r_cp_api_glt_fabc_JPWRKKVT40FFEYVD4F3X
Instead of continuing to clown you and your horrible investment decisions, I picked through your comment history and saw that you made a few comments asking for books/resources on how to learn more about trading options.
Here are some resources to help:
Your leader DFV is a CFA charterholder who clearly spent years picking through countless financial statements, white papers, and market trends to land on GME. He took a risk, but mitigated it substantially by learning as much as he could prior to loading the fuck up.
If you took just 10 minutes of your time to put in some effort in terms of learning more about RKT, you'd see that it's the wrong angle to play the housing market.
Good luck.
Pick up a copy of the book: Options as a Strategic Investment by Lawrence G. McMillan.
This is the book he is talking about: https://www.amazon.com/Options-as-Strategic-Investment-Fifth/dp/0735204659
>there isn’t really math involved with options trading
There absolutely is.
Do yourself a favor and stay away from wsb dipshits and get this book.
https://www.amazon.com/Options-as-Strategic-Investment-Fifth/dp/0735204659
if you want to save some money you can get an old version for like 10 bucks :)
CBOE website has a good educational part of their site http://www.cboe.com/learncenter/default.aspx
if you want books these 2 are ones that a generally recommended http://www.amazon.com/Options-Strategic-Investment-Lawrence-McMillan/dp/0735204659/ref=sr_1_8?ie=UTF8&qid=1442636034&sr=8-8&keywords=options+strategies
Only familiar with american exchanges , but here are a few resources.
https://www.nfa.futures.org/NFA-investor-information/education-and-training/index.HTML
http://www.cboe.com/learncenter/default.aspx
These books tend to be pretty well received for options information but I am not sure what level they really are. I would consider them a higher level read.
Truth. https://smile.amazon.com/gp/product/0735204659/
It's sitting on my night stand as I type this for my options homework.
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