 "Options 101 Rehash" - pvb8 | July 20, 2010 6:39 PM |
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I read this book a few years ago and though it is not as dry as some of the other option books in my opinion it did not deliver the goods. When I first read it I was looking for a clear and comprehensive explanation of Implied Volatility in all its ramifications for options traders. The book is really a rehash of the "Options Course" written by George Fontanills which I have also read. The content is largely a repeat of stock market 101 basics and spends most of the reader's time discussing the construct options strategies ( what is a put, call, vertical spread etc.) but precious little time discussing the nuances of Volatility and how to manage risk associated with it. As implied volatility is integral to options pricing the most superficial explanations is given and little consideration to how to trade it other than buy low volatility and sell high volatility.
Also, there is a grand total of two pages out of 322 that even mention the Greeks and what is mentioned is a one paragraph cursory definition of each. The fact that Vega risk is tied to increases and decreases in Implied Volatility and that it is mentioned only in three places in the book, seems to not deliver what I believe buyers would want to learn and brushes off what the book’s title is supposed to focus on. Rather it is a promo piece for the authors other products where you will get the "real" hot dope. |
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It was an OK read but it doesn't explain volatility nearly as well as Natenberg...contained a lot of information while interesting was not really relavent and spends too much time promoting optionetics. |
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 "excellent" - steve0580 | March 17, 2005 3:43 PM |
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This book is very well written. It covers trading with indicators, such as Bollinger bands, trading indexes and volatility.
It gives in depth explainations of option strategies, how volatility affects them and indicates option strategies to use, as well as what type of market to use them in. It covers volatility skews as well.
Well worth the money. |
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