Registered: Feb 2011
04-14-12 06:08 AM
Quote from TskTsk:
It's several reviews, on amazon...
Look at the top reviews, some quotes:
"not practical for the average option trader".
"will NOT give you any strategy you can USE"
"If you are looking for anything of practical value, look elsewhere."
"The problem is that all of the trades are just that - theoretical. They are all created based on old data. No insight is really given on how to make trades in real time. No information is given on safe stop levels "
"Not easy to apply for the average or even the advanced trader.High quality minute by minute option data is needed to construct volatilty decay curves.The data is often plagued by "noise" as a result of unwinding of large positions that tend to form spikes in the curves that makes quantitative application of the concepts difficult."
Also look at the Michael Orr review...he spesifically states that he built an excel model to backtest the concept but couldn't make it work.
Don't rely on others... do yourself justice: read them and formulate your own review. If not-- perhaps these will help:
--Ralph J. Acampora, CMT, Director of Technical Analysis Studies, New York Institute of Finance
A fantastic, insightful book full of meticulously compiled statistics about anomalies that surround option expiration. Not only does Augen present a set of effective trading strategies to capitalize on these anomalies, he walks through the performance of each across several expirations. His advice is practical and readily applicable: He outlines common pitfalls, gives guidance on timing your executions, and even includes code that can be used to perform the same calculations he does in the text. A thoroughly enjoyable read that will give you a true edge in your option trading.
--Alexis Goldstein, Vice President, Equity Derivatives Business Analyst
Mr. Augen makes a careful and systematic study of option prices at expiration. His translation of price behavior into trading strategy is intriguing work, and the level of detail is impressive.
--Dr. Robert Jennings, Professor of Finance, Indiana University Kelly School of Business
This book fills a gap in the vast amount of literature on derivatives trading and stands out for being extremely well written, clear, concise, and very low on jargon--perfect for traders looking to evolve their equity option strategies.
--Nazzaro Angelini, Principal, Spearpoint Capital
Instead of considering macro-time strategies that take weeks to unfold, Jeff Augen is thinking micro here--hours or days--specifically the days or hours right before expiration, and harnessing grinding, remorseless options decay for profit. He builds a compelling case for the strategy here. The concept of using ratio spreads plus risk management for as brief a period as one day--open to close--to capture expiring premium is worth the price of admission alone. A superb follow-up to his first book. Must-read for the serious options student.
--John A. Sarkett, Option Wizard software