I have a degree in financial math but still I feel I lack the knowledge and skills for practical trading of greeks... Could anybody point me to some good practical greeks books (not those financial math books)? Any good practical option greeks book that help me practice those greeks? Thanks a lot!
You can learn options greeks on the internet for free. But if you still want a book i'll suggest to get Trading Option Greeks: How Time, Volatility, and Other Pricing Factors Drive Profit. It's worth every penny.
....search google for an old ron ianieri video...i think you have to register to see it but it is free, it is an old one, not from his current site....i dont remember what the site was, maybe some one else here does.....
What do you mean by "practice those greeks" I found the chapters on greeks in the following books useful http://www.amazon.com/Complete-Guide-Option-Pricing-Formulas/dp/0071389970/ref=pd_rhf_p_t_3 http://www.amazon.com/Options-Tradi...=sr_1_1?s=books&ie=UTF8&qid=1298529520&sr=1-1
I liked "Trading Option Greeks: How Time, Volatility, and Other Pricing Factors Drive Profit" by Dan Passarelli http://www.amazon.com/Trading-Optio...=sr_1_1?s=books&ie=UTF8&qid=1298565054&sr=1-1
I meant "how professional option traders use greeks..." practicing their thought processes in trading...
You're not going to find that in any book. Beside, there is no consensus of opinion in the professional world. If there was we wouldn't see 90%+ of the profesionals fail miserably. The greeks like so many things in trading are a measure of what is happening. And indicator if you whish. Just like a speedometer. M. Schumacher and I have the same speedometer. Yet he drives much better than me. And I have yet to find a book that tells me how to catch up... Ninna
Do you mean Greeks are useless? Your opinion of Greeks can be extended to other things like strategies also. M.Schumacher and I know the same strategy. Yet he drives better than me. There is no book that tells me how to catch up... Greeks are useful to think about adjustments.
1) McMillan, Natenberg and then Cottle. 2) What about username "dagnyt" here? :eek: 2) What about your pal Paul Wilmott?
What is you trying to do is you trying to buy options or sell options? If buying options you should worry about where is greek going. But when selling Options you only need to worry about Theta. Well i only worry about Theta.