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Option Trader's Workbook, The: A Problem-Solving Approach, 2nd Edition
- By Jeff Augen
- Published Oct 14, 2011 by FT Press.
- Copyright 2012
- Dimensions: 7" x 9-1/4"
- Pages: 304
- Edition: 2nd
- Book
- ISBN-10: 0-13-210135-1
- ISBN-13: 978-0-13-210135-6
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Product Author Bios
Jeff Augen (Carmel NY), currently a private investor, has spent over a decade building a unique portfolio of algorithms and software for technical analysis of derivatives prices. His work includes 1,000,000+ lines of computer code reflecting powerful new options trading strategies. As founding executive of IBM's Life Sciences Computing business, he defined a growth strategy resulting in $1.2B of new revenue, and managed $200M in investments. He was President/CEO of TurboWorx, a Yale spinoff. His recent FT Press books include Trading Realities, Microsoft Excel for Stock and Option Traders, and Day Trading Options.
Successful options trading requires extensive practice. Most options books offer theory and strategies, but don't offer the practice needed to prepare for real-world trades, where the wrong split-second decisions can cost you dearly. Expert trader Jeff Augen covers every key scenario you'll encounter in modern options trading, guides you through successful trade executions, and shows how to overcome key pitfalls that trip up most traders. You'll walk through trades designed to profit from changing prices and volatility, time decay, rapid price spikes, and many other factors.
This second edition introduces powerful new techniques, and reflects the long-term impacts of the 2009 crash. New problems include:
- New CBOE Weekly Options Expiration options, and their unique pricing dynamics.
- Using collars, covered calls, and covered puts to structure income-generating trades with well-defined risk profiles.
- Using ratio trading, VIX options, volatility ETFs, and variance trading to generate profits from shifts in volatility.
Each section contains beginner, intermediate, and advanced sections, helping you build your skills one trade at a time, no matter how much experience you have--or how little. You'll find several hundred questions, all designed to mirror real life, and supported with clearly explained solutions.
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8 of 8 people found the following review helpful
self assessment required, By
This review is from: The Option Trader's Workbook: A Problem-Solving Approach (2nd Edition) (Paperback)
Customer review from the Amazon Vine™ Program (What's this?)
I have been trading simple option positions for almost twelve years and I thought I was an experienced intermediate level trader. I am not. There was so much material in the "beginners" chapter on pricing that went completely over my head that I now consider myself a novice at best. I guess this is a good thing to admit your own shortcomings; I was surprised I am as ignorant about options trading as I am. Very humbling but at the same time I am now challenged to learn what I need to understand and trade options down the road. Jeff Augen came highly recommended from another trader I really respect so I will give this my time and energy until I do get it.
7 of 7 people found the following review helpful
Great for a dedicated options trader; not for the novice or faint of heart, By
This review is from: The Option Trader's Workbook: A Problem-Solving Approach (2nd Edition) (Paperback)
Customer review from the Amazon Vine™ Program (What's this?)
Do not buy this as your first book in options trading. There is little in the way of frilly examples, pretty payout graphs, or even tables.This book is fantastic for someone who has moved on from that, has probably already done at least a little bit of options trading (or at least some experience with fantasy trading and modeling tools), and wants to challenge themselves with much deeper content. This book is very clear, detailed, and has a practical focus on more advanced options you might really want to trade.
5 of 5 people found the following review helpful
A good resource for developing some practical options know-how, By
This review is from: The Option Trader's Workbook: A Problem-Solving Approach (2nd Edition) (Paperback)
Customer review from the Amazon Vine™ Program (What's this?)
Workbook is the key term in the title of this book. It is a basically a collection of problem-solving exercises. The author lays out a scenario and asks a question, with the solution provided right there. There are hundreds of them, some simple and some complex. As such, it may not be the best point to start for someone just getting going in their options education, but it definitely has potential value for something with at least a bit of a foundation who's looking to apply that knowledge. Not only do the scenarios and questions ensure a good working knowledge of options, they also will get readers thinking about options applications in ways they probably would not have done otherwise.
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Online Sample Chapter
Preface to The Option Trader's Workbook: A Problem-Solving Approach, 2nd Edition
Table of Contents
Preface xi
Notes 1
Chapter 1: Pricing Basics 3
Chapter 2: Purchasing Puts and Calls 43
Chapter 3: Covered Puts and Calls 91
Chapter 4: Complex Trades--Part 1 125
Chapter 5: Complex Trades--Part 2 173
Chapter 6: Advanced Ratio Trades 219
Chapter 7: Stock and Option Trades 251
Chapter 8: Trading the Weekly Options Expiration 261
Glossary 273
Index 279
Downloadable Sample Chapter
Download the sample pages (includes Chapter 1 and Index)
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