OptionsAnimal is promoting their training of option adjustments. That is, using a whole host of option strategies as your initial trades play out to adjust your position and hopefully keep losing trades from turning out too poorly or even profiting. I was just wondering if anyone had some good book recommendations that teach a lot of these concepts. I'm hoping to find a book that has more information on when and how to use different strategies based on what's happening to your trade. I know there are a lot of books that describe the litany of option strategies, but ideally I'm looking for something that's a little more instructional and not so purely academic. If anyone knows of any good books, I would greatly appreciate the suggestions. Thanks. Snake
Here's one from ET's own Phil Budwick: http://www.amazon.com/Option-Trader...=sr_1_1?ie=UTF8&s=books&qid=1289875266&sr=1-1
An old book called OptionsEdge: http://www.amazon.com/Options-Edge-Winning-Volatility-Futures/dp/0070382964
Have you guys read either of these books? I'd also like to find some option material that is more instructional, especially if it were in the commods arena. Thanks
Free abbreviated book download (great book, not beginner reading) http://riskdoctor.com/pdf/OTTHRLITE.pdf His forum addresses questions. Carl __________________ Enjoy life, it's limited. You only get as much as you take.
I'm not sure that a book with a litany of option adjustments would make you any happier (there are a lot more possible adjustments than initial option strategies). And no, I don't know of any books that provide them. There are a lot of things in life that you can read everything there is to know about the topic but you really have to do them to get them into muscle memory or instinctive memory or whatever you want to call it. I think adjustment positions is one of them. When a position is moving for or against you, you can't be the deer in the headlights trying to remember what was suggested on page 234 of chapter 7 of the adjustment manual. What to do? Understand as many strategies as you can and utilizing some software (a picture is worth a 1000 words), get a feel for how different adjustments affect the risk graph. and by shifting it's P&L, you might end up with one you're more comfortable with. Simulated trading might also be beneficial in this regard. Just my 2 cents....