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Amazon.com Review

Brief, carefully paced lessons on options and trading strategies using verbal definitions and many trading examples for clarification. Each lesson builds on the one preceding it and explains options in plain English, from start to finish. Step-by-step coverage of controlling risk, protecting your investments -- even advanced strategies other introductory books ignore! Authored by Dr. W. Edward Olmstead, contributing editor to The Spear Report and editor of The Options Professor newsletter.

Review

Ok, I haven't read "hundreds" of Options books and I am not a sophisticated trader, however I have been trading options for over 10 years, probably 15 years by now. I do it on a small scale like many of the people who will read this book. I have attended two expensive "Options Seminars" and a couple of freebies. I was very reluctant to read Professor Olmstead's book since he is a math professor and I have trouble with anything other than basic math. I was also put off by all the claims of how great a teacher he was, since often these claims in the preface of a book are the sure kiss of a mediocre read. I actually had to force myself to start this book since I ordered 4 different books on Options at the same time. Boy, was I surprised, pleasantly. He does get right to the point and moves on quickly to the next point in clear, succinct language that "even a Cave Man" can follow. I expected erudite and esoteric for a writing style and, instead, got "meat and potatoes" with gravy. This was a terrific book and I will read it again and again. It was more than worth the price of admission. My favorite trade for some years now has been the vertical call bull spread option and I thought I was doing OK with it, not terrific, but "OK". Dr. Olmstead taught me in 2 pages that I have been missing out on optimizing the return on these trades. I had it embedded in my head the concept of Theta and Time Decay and how detrimental that is to a Call or Put Option... and that was all true, however in the case of spread trades once you are In The Money then Time Decay is actually your friend... and Dr. Olmstead shows you how this is true. I was bailing out of these trades with a profit, when I could have held on to the Expiration date and made so much more of a profit. It is a simple concept and I am sure most people who trade spreads already had that down... but for some reason I didn't... not until I read: Optons For The Beginner And Beyond. It is not as though that is the only thing I got out of this book. There is so much more packed into this small volume. I would expect that the professional traders will lambast this book just to show their greater level of knowledge and sophistication, however not all of us are professional traders. I think any beginning trader or any intermediate level trader will find this book to be helpful. I recommend reading it first and then following up with: Options Made Easy, second edition by Guy Cohen. They make a terrific combination read. Cohen's book is often criticized for not including enough of the option strategies. Olmstead discusses a larger amount of strategies and Cohen fleshes out some of the material of Dr. Olmstead. To me, they are complementary reads.




Amazon.com Review

Learn to use options from veteran option trader Mark D. Wolfinger, who spent more than 20 years on the floor of the Chicago Board Options Exchange (CBOE). If you are a seasoned stock trader or a casual investor who dabbles in mutual funds, this book is for you. Learn why stock options a versatile investment tool that has seen explosive growth over the past few years belong in your portfolio. If you re already trading options, this book is also for you. You will gain a thorough understanding of option pricing, function and equivalents, which will help you trade more effectively. Learning to adopt more advanced option strategies, like iron condors and double diagonals, will help protect your nest egg and, at the same time, earn healthy returns. Unlike many options guides, this book features step-by-step instructions, with extensive examples that outline the costs and benefits of each choice along the way everything you need to plan and execute each trade on your own. Wolfinger shows you how to analyze alternatives and explains why each may be appropriate for a particular investor with certain investment objectives. You ll develop a basis for deciding what is suitable for you and your investment philosophy. A thorough understanding of option basics will help you move on to powerful strategies to earn high returns with limited risk. Wolfinger s strategies will help ensure that your portfolio survives a market downturn. Stock options first traded on an exchange a mere 35 years ago and have exploded in popularity in recent years. Today nearly two billion options trade every year in the United States alone. Many people dabble in options without really understanding how they work and how they can be used most effectively. The Rookie s Guide to Options: The Beginner s Handbook of Trading Equity Options will give you the basic trading tools you need to start trading options profitably, as well as help you move on to more advanced strategies. Options were created to allow risk takers to hedge part of that risk. This book will help you learn to use options they way they were originally intended to manage risk and increase profits. You ll be guided step-by-step as the author guides you through the decision-making process in terms of puts, calls, strike prices, expiration dates and strategic equivalents. This book, aimed at the beginning options investor, will help you gain a clear understanding of how you ve been using options for years, even if unaware of doing so. If you have bought car insurance, accepted a rain check at a discount store or used a bus transfer, you already understand the concept of using options. If you thought options were too complicated, Wolfinger s clear and detailed explanations put that myth to rest. You ll see how to adopt basic options strategies, how to use them to earn profits and how to manage risk effectively. You ll move on to learn about the versatility of options and master advanced strategies, such as iron condors and double diagonals all selected to help you minimize risk and maximize profits. Learn how you can use options to: 1. Sell your stock above market value. 2. Turn a non-performing stock into a profitable investment. 3. Protect your holdings against a disastrous bear market and even profit in a bear market. 4. Create steady income. 5. Manage risk. 6. Earn profits more often than those who buy only stock. 7. Limit losses. 8. Own investments that earn a profit when the market moves higher or lower. The Rookie s Guide to Options: The Beginner s Handbook of Trading Equity Options shows you how you can get the most out of these versatile tools to protect your investments, create steady income and generate substantial profits.

Review

Options are a complicated investment instrument, but if properly understood and implemented, they are far less risky than owning stock or mutual funds. And as a bonus, they are most often more profitable. Trading options, one can choose to be a risky gambler (not recommended) or a conservative income generator.

The trick is understanding options and understanding risk management. If you trade options WITHOUT understanding them, and WITHOUT any risk management implementation, then by default you are a risky gambler. You will be out of money before you know what hit you.

The option world has its own lingo. And there are myriad strategies to sift through before determining which one(s) suit your risk/reward desires. Placing the actual trade orders with your broker requires a thorough understanding and fluency of the lingo, as well as a confident understanding of the strategy you've chosen.

The good news is that this book will actually TEACH you what you need to know to be a conservative income generator with options. I can assure you it is the ONLY book that TEACHES this. I own all the major books on options that have been released in the last five years and this one is by far the best and most practical. And long overdue.

To me, in order for an author to teach options trading, he or she must provide the real world philosophy behind a strategy, real world examples, real world gotchas, real world "how", and most importantly, real world "why". Of all the books I own, this one provides the total package. The others do a good job of perhaps the philosophy and the how, but totally lack the rest. In short, no book until this one teaches the complete knowledge one requires to be successful at option trading for income.

I am a rookie in that I had not actually traded options until studying this book. I am NOT a rookie when it comes to attempting to learn how to trade options. The other books did not leave me confident in my abilities to consistently earn income with options. Thus I didn't make any trades. This book gave me the confidence to start trading AND EARNING INCOME. That point alone truly sums up the value of this book compared to all other books on the shelves. The other books are simply lacking in regard to earning income with options. They are good resources for information but not for implementation.

The author's approach is conservative. You will learn how to manage risk and see that options ARE a good, safe investment instrument if used with conservative strategies and prudent risk management techniques. You'll also learn, perhaps by constructing a spreadsheet on your own (strongly encouraged by me), just how much potential income you can earn. You'll be pleasantly surprised.

However, a strong warning here: You MUST understand and comprehend what you are reading. You can't skim this book and expect to do well. In fact, you'll fail if you skim ANY book on options. Most likely, you'll fail big time after a lucky string because you THOUGHT you understood. If you can't commit to learning, and I mean intensely learning and understanding this book, then please steer clear of options. There are no free rides. You must invest brain power to do well. Recognize that most people do not WANT to invest the brain power required. It's hard. It's intense. It's confounding. It's WORTH THE EFFORT. Eventually it clicks. Decide if you do want to commit, and if so, buy this book. It's the only one you will need to conservatively earn a steady income trading options. If you do invest the brain power, you will be proud of yourself and you'll do well financially with your new knowledge.

I want to add that the author is an experienced floor trader, and a gracious man who has replied to all questions I've asked of him via email. If you are inclined to purchase $2000+ in software and another $2000-5000+ in so called "training" or "education", please save your money and seed your options trading account with it instead. But before making ANY trades, nail down what this book teaches. It is all you need.

FYI, my own trading focuses solely on Credit Spreads (which have their own chapter in the book) and utilizing the author's philosophy on risk management. But I had to understand the ENTIRE book prior to making that decision. You would be wise to do the same before deciding your own direction.




Amazon.com Review

Did you know you can use options to make money every month or every quarter? And you can use options as insurance, for example, to protect your stock portfolio. And if, on occasion, you wanted to speculate, you could leverage your money to double or triple your profits. It will cost you a lot less than if you bought stocks. And finally, if you like to short stocks, it can be safer to use option strategies than to use the stock market.

Speaking of safety, with most option strategies you know how much you can lose in advance. If used properly, options can be used by all investors and traders to generate income, for insurance, and to speculate.

By the time you finish this book, you should have a good idea what options can do for you and whether you want to participate. This jargon-free book is written by Michael Sincere, the author of All About Market Indicators (McGraw-Hill, 2011) Understanding Stocks (McGraw-Hill, 2003), and Start Day Trading Now (Adams Media, 2011).

Review

I was in the middle of writing my own book on retirement investing, which I have now finished. During that process I read many different books to get a well-around education on the subject. One area that always fascinated me - but seemed overwhelming - was the arena of stock options. I read the Futures and Options for Dummies book, only to then become more confused. I kinda gave up on the subject until I stumbled upon Michael Sincere's book in the store.

Don't let the size of the book fool you. The author packs quite a lot of information into these 221 pages. He explains the world of stock options in a very easy-to-understand format. Michael debunks many myths about options and shows you that while some types of options are highly risky, some are not.

This book is the launching pad to get you started in the world of stock options. You will eventually need to read more if you wish to purchase or sell options, but this book becomes your foundation. The nice thing about this book is that you will quickly learn whether or not options are right for you. Personally, I do not want to participate in options. However, I was able to make an informed decision based on the knowledge found in this book. I am still glad I read the book and highly recommend it to anyone who is curious about stock options.

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