| Very good for gaining an understanding of options (Hoboken, NJ) September 28,... |
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| Book - Customer Review:3
Options and Options Trading: A Simplified Course That Takes You from Coin Tosses to Black-Scholes Robert Ward 
Rating: 4.5/5 Stars Rank: 30408 (Hoboken, NJ) September 28, 2004 - 5.0/5 stars I appreciated this book because of its easy explanations of the most popular strategies, and its thorough discussions of the risks involved. A couple of years ago my friend told me he was given a sure thing: Buy Xerox stock and earn free money by selling Calls against it. He said there was a guaranteed 37% return over the next year or two. I didn't understand options, but I knew there's no such thing as a sure thing. When the strategy started losing, he doubled up and then it really went bad. At the time, I didn't have an argument for why he should have been more cautious; now that I've read Options and Options Trading, I do. In "The Best Option Strategies" chapter, I found what he'd done is called a Covered Write. According to the book, it's the most popular beginner's strategy, and it isn't even close to the sure thing that most people think it is. As I'd suspected, my friend didn't have a clue about how much risk he was taking. The reason I bought the book was because I wanted to see if I could understand options enough to be able to make money with them (and, because I'd always wanted to know what my friend had really gotten himself into). I'd advise anyone who's considering options to get this book and read the trading section thoroughly. It seems like you don't even have to understand the math if you skip to the chapters on trading and risk; it's all spelled out there in detail. My friend might have saved a lot of money if he'd read this book before he leaped; and, now that I've read it, I'm confident that I'll be better able to navigate these waters than he was.
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Editorials(1) | Product Info | Product Listings Customer ReviewsOptions and Options Trading: A Simplified Course That Takes You from Coin Tosses to Black-Scholes Robert Ward Customer Review
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