Comments on: The Options Playbook, Expanded 2nd Edition: Featuring 40 Strategies for Bulls, Bears, Rookies, All-Stars and Everyone in Between.

By: Lisa

Lisa — Mon, 01 Mar 2010 15:47:36 +0000

I consider myself a basic option trader. Up until I read this book covered calls and cash-secured put selling were the only option strategies I used and I was doing quite well until the sub-prime mortgage debacle. After taking a substantial hit to my account I decided to try to learn how to make money in an up and down market, so I bought a few books on options and planned to advance my education. My issue was I could not get through them because they were so math heavy or so boring that it just wasn’t possible to stay awake while reading. The options playbook was just the right speed and density. It explains how to set up each strategy and provides a heads up to many of the pitfalls of each play. It does it in a VERY user friendly, easy to understand format. Also, it has a ingenious spiral binding which makes it possible to lay the book flat on the desk turned to the page you need, because of this it is the only book I keep next to my computer. I use it all the time for a quick reference or just a simple sanity check before I enter my long put spreads. I do wish it had a little more detail on how to exit positions. I have found this to be an issue with my other options books, so I had to learn the old fashion way – by doing. I did some research on author and found out that he has many free archived webinars on the Chicago Board Options Exchanges site ([...]). They are an excellent follow up to the book if you want more detail on a particular strategy and I also noticed his blog is posted inside his author page.
Rating: 5 / 5

By: Sarah B. Wassernab

Sarah B. Wassernab — Mon, 01 Mar 2010 15:34:34 +0000

Having recently started working as a writer for an investment research company, this book has proven to be most helpful with my understanding of options. As an English major, I had no experience with the world of options, which is quite intimidating for someone without a financial background! This book nicely broke down options and option strategies, with a sense of humor that actually made it fun to read! I highly recommend this book for anyone with an interest in options, as this book is a delightful read for those venturing into the world of option trading!
Rating: 5 / 5

By: Robert W.

Robert W. — Mon, 01 Mar 2010 13:13:09 +0000

I have a Intermediate understanding of options and how they perform.

This book still helps me out alot especially the Chapter on the 40 plays, If I want to refresh my mind on how an Iron Condor is set up and its characteristics/ profit/loss diagram, I go to that play and he tells it like it is without confusing its reader.

As well, I like that it is spiral bound as I can fold the book on whatever play I am studying. I use the book and on the web to set up virtual trades, then to see how each play moves with the market.

Read and further your educatuion into the “greeks”…..The greeks are like a key to your front door. You wil be lost and discouraged if you have “no idea” of what they are and how they affect premiums.

Delta,Gamma,Theta and Vega are the 4 Greeks, there is a 5th Greek, Rho but

for most applications traders grasp the first 4 I mentioned.

I have watched Brian on CBOE’s webinars as well as the Trade King Webinars and I find he is an excellent teacher in the amounted time he has on each webinar.

I hope he updates another book for the more ” Mid-Advanced” option trader in the future.

For now there is alot to cover in Options playbook, Straddle, Strangle, Condor anyone??
Rating: 5 / 5

By: Zvi Boiangou

Zvi Boiangou — Mon, 01 Mar 2010 13:06:40 +0000

Hello,

The book is nice and summerizes the different strategist and its good for beginners.

I would expect to see more of adjustment to the different examples cause these are more important

then setting a regular strategy.

There is one small chapter that deals with rolling but its not enogh to me.

Regards

Zvi
Rating: 3 / 5