Options Trading: The Hidden Reality - Ri$k Doctor Guide To Position Adjustment And Hedging ("Options: Perception And Deception" & "Coulda Woulda Shoulda" Revised & Expanded, Printed In Color) Download Free (EPUB, PDF)

                
              
Options Trading: The Hidden Reality - Ri$k Doctor Guide To Position Adjustment And Hedging ("Options: Perception And Deception" & "Coulda Woulda Shoulda" Revised & Expanded, Printed In Color) Download Free (EPUB, PDF)
Required Reading for the Serious Options Trader This book is an expanded revision of "Options: Perception and Deception" and "Coulda Woulda Shoulda". "Options Trading: The Hidden Reality" (OTTHR) is printed in color and has 100 more pages than previous versions. In addition to 3D graphics and Skew Library, OTTHR features Position Dissection (the Market Maker Risk Management Tool) illustrations on popular wingspread (stretched-out condors, slingshots and skip-strike-flies) and calendarized spread (double diagonals, straddle strangle swaps and double calendars) configurations.
Hardcover: 411 pages
Publisher: RiskDoctor, Inc. (2006)
Language: English
ISBN-10: 0977869172
ISBN-13: 978-0977869176
Product Dimensions:  9.1 x 6 x 1.2 inches
Shipping Weight: 1.8 pounds
Average Customer Review:  4.3 out of 5 stars  See all reviews (29 customer reviews)
Best Sellers Rank: #183,585 in Books (See Top 100 in Books)   #66 in Books > Business & Money > Investing > Options
I wanted to comment on my experience with the book and some of the other customer reviews.You do not need to be a market maker or veteran options trader to read and get value from this book. I am a retail options trader, with a very serious full time job, and have virtually no mathematical aptitude, and I have already started benefiting greatly from the book.In my opinion you should make sure you have basic familiarity with how options work, and some of the basic outright positions and spread techniques and what market view they support, and you will be ready to start learning what options are really about from there. You cannot go wrong by using this book and Mr. Cottle's other materials as the very next step.Be under no delusion---after the basics---options can get very complicated very quickly--if you let them. I have discovered, contrary to my initial impression, that Mr. Cottle in fact through the use of detail is really attempting to simplify option strategy decisions and trading itself. Through the use of what seems to be complicated examples---CC cuts through the fog and gets to the meat of options strategies and how and why one might choose one over the other--and invariably the best choice is something straightforward.Based on what I know about him and my experience with his materials, he is committed to teaching. If you expect to read this book without pen and paper in hand, with little or no effort on your part, and have him simply say "do x and you will get rich" this book and his approach is definitely not for you. He is like any good teacher. He will make you work for the answer, but not leave you hanging when you struggle.
This book is very unique in that it covers material not covered by any other author that I've seen. I've been trading options since 2002 and it wasn't until I read this book a year or so ago that I was able to make a quantum leap in my trading. The book may not be an easy read. So it needs to be "studied" carefully over time. Parts of it should be read a few times, studying the illustrations in detail. But it will be well worth the effort.In order to make this review as useful as possible, I'll discuss what skills I've gained from reading this book and what you can expect to gain by reading and absorbing the material:1. You'll learn about synthetics and position dissection. This will help you evaluate any option strategy that anyone out there should throw your way (or you come-up with) to determine the risk/reward and pros/cons of it in an objective way. There are many educational firms that sell strategies. Charles Cottle's book will help you break them down to see the precise risk/reward characteristics that cut through the hype.2. You will be able to understanding whether adjustments to option positions make sense or not. There is a lot of debate whether you should adjust positions or not. This books will answer those questions for you. It will also help you evaluate which adjustments do and which ones do not make sense, given your position and your market opinion.3. As the subtitle implies, it will help you see the objective, but often hidden, reality behind your position and adjustment decisions. One very common problem is self-deception in creating/managing complex option positions - either subconsciously or due to lack of knowledge.
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