The Option Trader's Hedge Fund: A Business Framework For Trading Equity And Index Options Download Free (EPUB, PDF)
In this book, a hedge fund manager and an option trading coach show you how to earn steady, reliable income selling options by managing your option trades and running your option portfolio as a real business with consistent, steady returns. Packed with real-world examples, the authors show you how to manage your own “one man” hedge fund and make consistent profits from selling options by applying the basic framework and fundamental business model and principles of an “insurance company”. This framework helps you to apply your option trading strategy to a solid, predictable, business model with consistent returns. For someone who has some knowledge of trading options and wants to become a consistent income earner. The authors provide a complete “operations manual” for setting up your business. Gain pearls of wisdom from both a professional options trader and coach, and from a hedge fund manager focused on managing an options based portfolio.
File Size: 17364 KB
Print Length: 240 pages
Simultaneous Device Usage: Up to 5 simultaneous devices, per publisher limits
Publisher: FT Press; 1 edition (May 18, 2012)
Publication Date: May 18, 2012
Sold by: Digital Services LLC
Language: English
ASIN: B00844NXC6
Text-to-Speech: Enabled
X-Ray: Enabled
Word Wise: Enabled
Lending: Not Enabled
Enhanced Typesetting: Enabled
Best Sellers Rank: #457,744 Paid in Kindle Store (See Top 100 Paid in Kindle Store) #107 in Kindle Store > Kindle eBooks > Business & Money > Investing > Options #271 in Books > Business & Money > Investing > Options #159960 in Kindle Store > Kindle eBooks > Nonfiction
This is a book that every options trader should read. I have read it twice and use it regularly as a reference - it is that valuable to me.I have read most of the top books on options that are available, but this one stands out in it's practicality and it's ability to lay out a solid framework for options trading as a business. Where most books either stay too theoretical, rely too much on analogies, make unrealistic promises, or focus too much on a single strategy I find The Option Trader's Hedge Fund gave me not only the theory but also practical information that has improved my trading.Of particular value is the explanation of the various positions that may be traded along with under what conditions it each position will perform best. Beyond that there is a discusion on managing each type of position, such that a clear plan is laid out for most situations you might encounter. What I find particularly unique and valuable are the details on how to adjust each position for various circumstances along with the setup of what volatility environment and skew curves work best for each position. This level of detail is not something I have found in any other books on the subject - at least not presented in such a practical way.This book has improved my trading and saved me many times the price just in helping me learn how to better manage positions I was already trading. It's been even more valuable by helping me identify under what conditions I should be trading various positions. I view it as essential reading for anyone trading options. Of all the options books I have read, this one is the most useful and valuable to me. This is the one I pull out when planning trades. This is the one I pull out when I need to manage or adjust a position.
I'm not an options trader, but I know something about the subject. Vine has sent me a couple such books for review in recent months. Other than Aaron Brown, I'm probably one of the few Vine Voice dudes who is capable of giving reviews for such things. There are other people to pay more attention to (for example; folks who trade options for a living, particularly the strategies he describes), but here's my best shot:1) The strategies they describe here, are, to my knowledge, viable strategies. Vertical spreads, Iron Condors and Time spreads are well known, fairly low risk ways of making money. Many fancy pants looking strategies; high frequency, options, "mean reversion," stab art, trend following or "other" end up being one of these guys at the end of the day. I haven't backtested these strats on anything, but they are legitimate and well understood ideas.2) The "general" advice given is sound. I don't know about hiring a trading coach; maybe it is a good idea. But treating the strategy as an insurance business is definitely the correct approach. Some of the detailed advice from Mark Sebastian (quoted from a blog, which is weird) seems like actual gems of wisdom. I'm not sure what most people would make of it though.3) The book is pretty weak on a deeper understanding of options trading. There is nothing here to tell you about the greeks. There is really nothing to tell you about the different risk factors for the different kinds of strategies. I guess you need to go read Charles Cottle or Euan Sinclair's books first. This could be helpful for the hand wavey stuff afterwords, though I figure if you've read Sinclair's books, you probably don't need this book.4) I detected some bad advice here.
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