| OverviewThis is the Safari online edition of the printed book. "Unlike most books that oversimplify
trading situations, Augen's approach forces you to learn by
solving real-world problems where stock prices spike up and down
and volatility changes constantly. Learning by doing is a distinct
advantage for both novice and expert." --Sean Sztern, Alternative Strategies
Group, Desjardins Securities "This workbook represents a unique and
effective learning tool. It will broaden your understanding of
options and raise your trading skills to a higher level." --Dr. W. Edward Olmstead,
Northwestern University, author of Options for the Beginner and
Beyond "Serious options trading requires
skills that can only be learned through practice. Augen's
progressively more challenging problems definitely provide that
real-world practice. There are lessons here for everyone, from
beginner to sophisticated professional." --James Marcus, Partner, CMG
Holdings, LLC Most options books offer theory and
strategies but don't give you what you really need: hands-on
practice that prepares you for real-world trading, where subtle
decisions make the difference between winning and losing. Now,
there's a solution: The Option Trader's
Workbook.
Using a question and answer format, this innovative workbook covers
key scenarios you'll encounter as an option trader. Expert
trader Jeff Augen explains the challenges they present, reveals the
potential pitfalls, and walks you through each example to help you
understand how to maximize your success. You'll master trades
designed to profit from rising or falling stock prices, rising or
falling volatility, time decay, rapid price spikes, and many other
market dynamics. Each section helps you build your skills one trade
at a time---whether you're new to options or you've
been trading for years.
Learn by doing--not by reading
or memorizing
Practice real decision-making in real
trading situations
Gain a detailed, intuitive
understanding of pricing
Understand exactly what must
happen for your trade to be profitable
Learn to identify efficient trade
structures
Avoid errors that cause losses even when
you've correctly predicted a stock's
direction
Learn how to manage risk
effectively
Optimize profits by choosing the right
option strategy for a particular situation
Use complex trading strategies with
confidence
Master highly profitable techniques used by
professionals
Editorial ReviewsProduct Description"Unlike most books that oversimplify trading situations, Augen's approach forces you to learn by solving real-world problems where stock prices spike up and down and volatility changes constantly. Learning by doing is a distinct advantage for both novice and expert." --Sean Sztern, Alternative Strategies Group, Desjardins Securities "This workbook represents a unique and effective learning tool. It will broaden your understanding of options and raise your trading skills to a higher level." --Dr. W. Edward Olmstead, Northwestern University, author of Options for the Beginner and Beyond "Serious options trading requires skills that can only be learned through practice. Augen's progressively more challenging problems definitely provide that real-world practice. There are lessons here for everyone, from beginner to sophisticated professional." --James Marcus, Partner, CMG Holdings, LLC Most options books offer theory and strategies but don't give you what you really need: hands-on practice that prepares you for real-world trading, where subtle decisions make the difference between winning and losing. Now, there's a solution: The Option Trader's Workbook. Using a question and answer format, this innovative workbook covers key scenarios you'll encounter as an option trader. Expert trader Jeff Augen explains the challenges they present, reveals the potential pitfalls, and walks you through each example to help you understand how to maximize your success. You'll master trades designed to profit from rising or falling stock prices, rising or falling volatility, time decay, rapid price spikes, and many other market dynamics. Each section helps you build your skills one trade at a time---whether you're new to options or you've been trading for years. *Learn by doing--not by reading or memorizing Practice real decision-making in real trading situations*Gain a detailed, intuitive understanding of pricing Understand exactly what must happen for your trade to be profitable*Learn to identify efficient trade structures Avoid errors that cause losses even when you've correctly predicted a stock's direction*Learn how to manage risk effectively Optimize profits by choosing the right option strategy for a particular situation*Use complex trading strategies with confidence Master highly profitable techniques used by professionals |
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Reader Reviews From Amazon (Ranked by 'Helpfulness') Average Customer Rating: based on 6 reviews. Good book...but, 2009-05-16 Reviewer rating: okay - I'm starting to understand this book - unfortunately this is the first book on options I've read. (that's a good and bad thing). While the book is sooo thorough, a trait to be admired, more commentary and explanation would be helpful rather than constant question and answer. As far as thoroughness is concerned I have a few pet peeves
- when explaining what a variable is, like delta, give units of measure and what you expect to find it at, when it's high, when it's low, etc. the book does it in a fairly roundabout way - when looking for a quick answer I had to read a whole chapter.
- big one - when researching butterflies I realized there are situations when you CANNOT make money. It would be nice if the book showed you how to differentiate those from those where you can.
All in all this is an amazing book - and I NEVER give 5 stars to anyone. | Not understandable, 2009-04-20 Reviewer rating: Sorry, I had high expectations, but am putting this book aside. I've been working on it for 3 days, and know nothing more than when I started. It says it goes from easy to more difficult problems, but does not. It starts out hard and jumps around. Also there is no coherent learning structure or organization, and the answers are not understandable (unless perhaps one already knows the material). | The best options workbook I've read to date, 2009-03-11 Reviewer rating: I have read most well-recommended books on options and derivatives (save Hull...) and most of all "workbook"-type options books to boot - and this is the first I've come across that actually sets up problems and takes you through the solutions. Where most other workbooks re-hash your standard strategies and place them in the appropriate setting, along the lines of "if your market outlook is bullish, do bull call or put spreads...", Augen actually hands out the tools to do not only risk-reward calculations, but probability calculations, adjustments and much more.
I've been theoretically applying the lessons learned in the Volatility Edge for the past year (with varying success - since you really can't tell until you bet...) and is really pleased to have found this most excellent book before my losses got too out of hand...
My only issue is that I could have wished for a little more in-depth description of how the parameters for calendar spreads are calculated, i.e. upper and lower breakevens. On the other hand, no other workbook has ever provided ANY insight whatsoever on the calculations that goes into the analysis of calendars!
Definitely recommended, PROVIDED that you have a decent grasp of basic options theory, i.e. pricing, greeks etc. | If you liked Augen's The Volatility Edge, then you'll welcome this workbook, 2009-02-22 Reviewer rating: The workbook is like having an experienced options trader as a personal mentor. Augen guides you through the process of evaluating options positions, adjusting options positions, and then taking them off. Readers who actually work their way through the scenarios presented, before looking at the answers, will more fully benefit from this book. This book takes the trader through many of the same issues presented in The Volatility Edge but adds much new material and new insights that could not be fully presented in the previous book's textbook format. Instead those issues are better shown in a question and answer format as in this workbook. I really learned a lot from this workbook and you can too!
| Will Make You a Better Trader, 2009-02-18 Reviewer rating: Unlike just about every option trading book I have read, this workbook tests your knowledge in a way that absolutely has to make you a better trader. Just reading the answers provides insights into evaluating different trading options and making optimal decisions. The questions span a broad spectrum of difficulty so there is something for everyone, even the more experienced traders. People just starting out can build and test their knowledge as they become more experienced. If you are looking to be, or already are, a serious options trader, then I highly recommend it. |
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