Details

The Options Edge


The Options Edge

An Intuitive Approach to Generating Consistent Profits for the Novice to the Experienced Practitioner
Wiley Trading 1. Aufl.

von: Michael C. Khouw, Mark W. Guthner

40,99 €

Verlag: Wiley
Format: PDF
Veröffentl.: 01.03.2016
ISBN/EAN: 9781119212447
Sprache: englisch
Anzahl Seiten: 352

DRM-geschütztes eBook, Sie benötigen z.B. Adobe Digital Editions und eine Adobe ID zum Lesen.

Beschreibungen

<p><b>Capture the fortune you're losing with every trade by learning to exploit options</b></p> <p><i><i>The Options Edge + Free Trial</i> </i>shows you how to capture the fortune you lose out on every day. Buying and selling traditional investments often entails instruments with optionality. Sometimes this optionality is explicit, while other times it is hidden. If you're not leveraging these embedded options to their fullest advantage, you're losing money. Most retail investors don't truly understand the nuances involved in successful options trading and instead rely on more comfortable instruments with fewer complex mechanics. If you're interested in optimizing your portfolio, it's time to step out of your comfort zone and learn what you've been missing. This book gives you the background you need to take full advantage of options in this booming market. The companion website features easy to use analytical tools that help investors find the best opportunities so you can start applying these methods right away. Whether or not you ultimately decide to start actively trading options, the concepts discussed will make you a better all-around trader with greater security in your financial affairs.</p> <p>Most investors buy and sell options every day without ever knowing it. This book relates stories of those who have leveraged options to make fortunes and those who have lost by not understanding the optionality of their financial endeavors. You must know the fundamentals of options, and then learn to recognize hidden options, in order to improve success in all of your investment activities. After taking these steps, you can go on to:</p> <ul> <li>Create hidden options at little or no cost</li> <li>Structure your finances to reduce risk and increase wealth</li> </ul> <ul> <li>Utilize a practical pricing model for smarter investing</li> </ul> <p>The listed options are currently the only growing exchange traded financial product in the developed markets, with a current average volume of 20 million contracts—equivalent to 2 billion shares—per day. Now is the perfect opportunity to fortify your finances, and <i><i>The Options Edge + Free Trial</i></i> gives you the understanding and practical tools you need to optimize your portfolio today.</p>
<p>Introduction 1</p> <p>Chapter 1 What Is an Option, and How Do Options Work? 11</p> <p>Chapter 2 Valuing Options with the Black–Scholes– Merton Option-Pricing Model 29</p> <p>Chapter 3 Trading Volatility 65</p> <p>Chapter 4 Are Options Fairly Priced? 97</p> <p>Chapter 5 Fundamental Option Strategies 125</p> <p>Chapter 6 Portfolio Hedging Producing Enhanced Returns 155</p> <p>Chapter 7 Option Strategies for Special Situations 193</p> <p>Chapter 8 Extracting Information from Options Prices 213</p> <p>Chapter 9 Synthetics 235</p> <p>Chapter 10 Home Runs 253</p> <p>Chapter 11 Strike-Outs 277</p> <p>Notes 305</p> <p>Glossary 311</p> <p>References 319</p> <p>About Online Education and Option Trading Tools 323</p> <p>About the Free Trial 329</p> <p>Index 331</p>
<p>MICHAEL C. KHOUW</b> is a 21-year veteran of the financial services industry with broad experience as an options market maker, proprietary trader, analyst, and portfolio manager. In these roles he has actively traded equities, com-modities, and derivatives on these asset classes for both buy-side and sell-side firms. Mike shares his insights as an on-air business news contributor with CNBC. As a regular panel member for <i>Fast Money</i> and <i>Options Action</i>, he has appeared on over 1,000 shows since 2009.</p> <p><b>MARK W. GUTHNER, CFA, </b>is a 29-year veteran of the financial services industry. His skills and experience include trading, securities analysis, portfolio management, risk management, quantitative analysis, and financial technology. Mark is the author of <i>Quantitative Analytics in Debt Valuation & Management</i>, published in 2012. He has spoken at conferences and trade groups, and participated in advisory panel discussions with banking regulators. Mark holds a CFA designation and volunteers his time and expertise in various capacities to the CFA Institute.
<p>Praise for <i>The Options Edge</i></p> <p>"Mike and Mark are the most innovative thinkers in the options world today. Their unique perspective on the use and pricing of options substitutes understandable common sense and logic for the complex math that often confuses and intimidates the experienced practitioner."<BR><b>—Scott Nations,</b> Author of <i>Options Trader</i> and CNBC On-Air Contributor <p>"<i>The Options Edge</i> is a refined and accessible presentation by two seasoned professional investors. Michael and Mark write from a practitioner's prospective about the most versatile financial instrument and explain them in a clear and simple way by going beyond the math to reveal practical and profitable insights."<BR><b>—Leighton A. Shantz,</b> <b>CFA,</b> Head of Fixed Income at Employee Retirement System of Texas <p>"Michael and Mark take the mystery out of options and reveal practical insights through real life examples. A must read for anyone interested in understanding how to use options to improve investment returns and manage risk."<BR><b>—Dan Nathan,</b> Proprietary Equity & Options Trader, Founder & Editor of RiskReversal.com, and Panelist on CNBC's <i>Fast Money</i> and <i>Options Action</i><b>

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