I would like to know which options books have the best and most detailed discussions specifically on the topic of selling puts. Does anyone have any recommendations? Several options books I have read go over the subject but not in much depth. I would love to find a book that has a more in depth discussion. Also, I'm curious about how different brokers treat buy backs of puts which have lost all value. Are there any brokers who are better about this, from a cost perspective? I read that some brokers will waive the commission if you buy back the puts at .05. My broker Optionshouse, does not waive the commission in this case. If I place an order to buy back at .05 I am charged a commission. Also, I have noticed that even if an option is at .00, I am still forced to buy back at .05. There is no other way for me to close the position than to buy it back at .05. It seems a pity that I must buy back for .05 something worth .00 and then pay a commission on top of that. I know that I can simply take the chance of letting the option expire and avoid the commission this way plus get the full profit on the put I have sold, but it seems like waiting for expiration day involves more risk. I would rather buy back options that have lost all value before expiration if it can be done without incurring too many costs. Thanks in advance for your suggestions/advice.
Learning just about put selling is like learning to drive by only learning how to steer. Read more general books (natenburg, etc) and apply to selling puts yourself. You will serve yourself better this way. No one will let you buy back an option for free. Each trade costs the brokers money (exchange fees, etc). Secondly, if you are selling puts then your pnl won't be materially affected by round trip commissions. There will be larger risk factors that will cause you pain or joy.
Way I would recommend is start reading in reverse order Meaning Buying Put Options - Why , when , How , risk, figuring out circumstances when put buying is prudent - This approach will help you in broadening your perspective , put you through thought provoking There are several books out there but I would recommend taking coaching. I highly recommend Mark & Andrew from Option Pit.com I took my classes from them couple years back and I can tell you that i strongly believe that was one of the best investment I made
I would paper trade + read as I need from the web. I would waste my time and money buying those books, in addition to the more serious cost of corrupting my head from reading what others write as if it were a true knowledge. I read others not to learn from what they write, but to determine what they do not appear to know (but should know) or what they do not know well/right.