I am curious about Lord's book on collars. I don't want to pay his astronomical price. Anyone able/willing to summarize it for me? thanks Mary
The books are written by a number of Optionetics instructors. a lot of the contents are already in the Optionetics website. (free access)
Here's my introduction to collars: http://blog.mdwoptions.com/options_for_rookies/2008/07/collars-the-ult.html Mark
I have a friend who owns the J L Lord collar book and I've perused it myself. This book isn't merely a noob guide to collars. It goes more in-depth regarding how far OTM the long put and short call should be. It also goes into detail regarding stock selection and position sizing. The guy's looking to quit work in a year's time and support himself solely on trading. The collar is his main trading method. He'd argue it's totally worth the $300 cost.
There have been rumors floating around that J L is one (or more) of the instructors from Optionetics. Nerdy historical note: "J L Lord" was one of the pseudonyms Jesse Livermore used for checking into hotels. It was to keep from being harassed. Nowadays, he'd be arrested as a terrorist doing stuff like that.
That's what I hear as well. I figure if he was worth anything as a trader he wouldn't be afraid to tell us a little more about himself. For all I know he could be stockturd3r trying to sell books to make up for his losses. It's a big red flag when people try to sell stuff and hide behind a wall of secrecy. I have heard that thing about Optionetics as well...as if their stuff isn't overhyped and overpriced enough I guess they want to find yet another angle to squeeze money from the ignorant.
I'm not an Optionetics student, but I have some friends who are. They do know their stuff and they got lots of good info from Optionetics. But I've also heard some complaints that they're spending an increasing amount of time in classes selling the next hot expensive tool or the next hot expensive seminar. Maybe their market is just plain tapped out at this point and they need to increase the recruiting pressure to stay even. BTW, I've learned a lot about options on my own. The classroom setting just isn't for me. I'd rather sit down with a book and read. Some people can't learn unless someone lectures them about it. That's fine, it's just different learning styles. Optionetics is probably just the ticket for them.