That author is Charles Cottle. He was giving away his book for free at one time, but I don't know if he still does. My favorite books are Sheldon Natenberg's for basic options trading and one or two of Jeff Augen's for ideas. But I haven't found the lengendary cookie-cutter that you can replicate to pull the big bucks out of the market. I recommend trying stuff, but keep it small, because trying stuff is an expensive way to learn. The hard part is visualizing how and why option prices change as they do. And I don't think one can get that by studying option models or by reading a book.
Terrystips is a sham. just google his site and reviews http://www.elitetrader.com/et/index.php?threads/terrys-tips-a-cautionary-tale.55017/
Thanks for the info rwk. I once asked Mickey Hoffman for more books to read and he suggested that book. Mickey ran a course to teach floor traders how to trade in Chicago. He probably taught half the floor traders the hand signals necessary to trade. Mickey if you're out there I want my Jimmy Sloman book back.--Swimr
Not everyone is visual or trades visually, rwk. But I am/do. Don't trade options now, but I use the same visualization skills in currencies. When I'm on its scary--i can look at a chart and see what's most likely to happen. The key is understanding that's not always there. Sometimes it seems so obvious I question whether everyone else sees it too.--Swimr
As a seller of option premium, You take benefit of Time Decay As a writer of Puts and Calls , You can win on both side , But hence You cannot lose on the two sides.
Look videos on YouTube about "Double Vertical Spread", "Iron Condors" and "Iron Butterfly". Take advantage of "Credit Spreads" in the same time with Puts and Calls.