Need an advanced options book

Discussion in 'Options' started by eldorado1, May 2, 2011.

  1. To pass my time in the weekends when there׳s no trading going on..
    Read samples on kindle of some popular and high rated books but they give too much attention to the basic stuff. Can you recommend me a book that could really upgrade even the very experienced trader?
    Any thoughts on ״The Volatility Edge in Options Trading״ by Jeffrey Augen?
    (I trade credit spreads)
    Have a great week everyone
  2. Glad to see other credit spread traders around.

    I'm currently reading "Trading Option Greeks, How Time, Volatility, and Other Pricing Factors Drive Profit" by Dan Passarelli.
  3. Carl K

    Carl K

    This is not an entry level book. This is learnable.
    "Options Trading: The Hidden Reality" by Charles Cottle
    A free download excerpt

    Enjoy life, it's limited.
    You only get as much as you take.
  4. thanks. those look really interesting.
    the second one very pricey (90$ on amazon and no kindle version) but probably worth it
  5. sle


    I would start from Volatility Trading by Sinclair. What exactly do you mean by "advanced" - are you looking to improve your execution, data analysis, opportunity search?
  6. Hi, maybe I could improve executions, analysis and opportunity search but I am pleased with what do today. I am looking for something that can give a prospective that perhaps I never thought of, maybe some pro's secrets (not just strategies). If it's in a form of an interesting option trader biography that's cool as well as long as it got an insight on trading itself.
    the books I bought so far were books I needed for a certain purpose now I'm just looking for a sort of icing on the cake (exaggerating)
    Hope I didn't make it too confusing.
  7. Carl K

    Carl K

    Don't buy the book, unless you can understand the Free Lite version.
    There are Free videos and Homework to help with understanding the ideas in the book.
    Also a "Video series for Beginers"

    The general discussion forum for Q&A is
    Additional information at
    There is an e-book version for those of us that don't enjoy holding hard copy books.
    Enjoy life, it's limited.
    You only get as much as you take.
  8. Good book...
  9. jokepie


  10. erol


    wow, it's been a while since I've posted

    I would say the "The Bible of Options Strategies" isn't very useful if you've studied option strategies and you're well acquianted with them. I think McMillan's book is better IMO. It's kind of like buying a multiplication table... it's not so useful when you know how to multiply.

    Cottle's Book "Options Trading and the Hidden reality" is great, and offers a few other tidbits I didn't see in the other books I've read. I felt it added more information on synthetics and some additional positions I really didn't think about. I feel like it's a book for a market maker or someone with big pockets to manage those positions or unwind "pregnant" butterflies. Anyways great book.

    "Volatility Trading" (from my point of view) is an advanced book that is great if you're able to do it, which I'm admittedly still not there yet. It's more of a practical book that offers great information on risk management and trading psychology. It's not a book if you're looking for different option strategies and spreads. The main premise is trading straddles and staying delta neutral. The core chapters focus on how to do this successfully.

    So, if you want option positions, go for Cottle's book. If you want trading strategy go for Sinclair's.
    #10     May 8, 2011