Get Rich with Options

Submitted by Book Library on 10 March, 2010 - 22:08

A detailed guide to successfully trading stock and commodity options After numerous years as an options market-maker in the trenches of the New York Mercantile Exchange, few analysts know how to make money trading options like author Lee Lowell.

Now, in the Second Edition of Get Rich with Options: Four Winning Strategies Straight from the Exchange Floor (Agora Series) (Hardcover) Lowell returns to show you exactly what works and what doesn't. Filled with in-depth insight and expert advice, this reliable resource provides you with the knowledge and strategies needed to achieve optimal results within the options market. It quickly covers the basics before moving on to the four options trading strategies that have helped Lowell profit in this arena time and again: buying deep-in-the-money call options, selling naked put options, selling option credit spreads, and selling covered calls.

  • Breaks down four of the best options trading strategies currently available
  • Explains how to set up a home-based business with the best options trading software, tools, and Web sites
  • Contains detailed discussions of how options can be used as a hedging or speculating instrument

With this book as your guide, you'll quickly see options in a whole new light and learn how to become part of a small group of investors who consistently win.

Positive Review of Book

Get Rich with Options is a rare read in that it is very simple to understand, yet provides all the insight into the complex options trading world. It takes very complicated ideas and makes it simple for all who read the book. You will thoroughly enjoy reading this book and it will enable you to understand a sometimes hard to understand subject-the world of options. I have taken the authors ideas and simulated some options trades and they have worked. Next step is the real thing!! I would recommend this book as a very quick and simple read. If you want to understand the world of options, this book is for you!!!!

Negative Review of Book

Get Rich with Options is like reading only 10 pages in Lawrence G McMillan book on options. It is almost 1000 pages long. This book is light reading, entertaining and explains in a simplistic way the concept of options. I do not recommend using it as a first book before tossing your dough away in the market. He forgets to explain the most important secret. How to pick the stock which you write a derivative on. McMillan might be a bit too much on math but if you do not understand the math and the loss or gain curves you will loose your shirt quickly. I see this as a nice first book to read but unless you got lots to loose or very lucky, you should read something that is a bit deaper into the math behind the transactions. Not sorry I bought it but I did not learn anything new since I have read other more technical volumes. Its biggest weakness. it does not explain how to pick the right stock you need to hit the jackpot. Well really none of them do but I just thought I would warn the beginner.

Author Biography

Lee Lowell is one of America's leading options professionals and is the coeditor of Mt. Vernon Research's Xcelerated Profits Report and Editor of Instant Money Trader and Triple-Zone Profit Trader. He has been an options trading professional for seventeen years and spent six years in the options trenches as a market-maker on the floor of the New York Mercantile Exchange (NYMEX). After leaving the floor in 1998, Lowell started, and currently runs, his own home-based trading business—actively trading commodity options and futures, stocks, stock options, ETFs, and e-mini futures. He's had numerous articles published in leading financial magazines, including Futures and Technical Analysis of Stocks and Commodities, as well as articles posted on options-related Web sites such as www.optioninvestor.com and www.esignal.com. Lowell is also the author of the first edition of Get Rich with Options (Wiley).

Table of Contents

  1. PART ONE: THE OPTION BASICS.
    • CHAPTER 1: It's All about the Calls and Puts.
    • CHAPTER 2: How Options are Priced.
    • CHAPTER 3: Options Volatility.
    • CHAPTER 4: Stock versus Options.
    • CHAPTER 5: Option Selling Is your Key to Success.
  2. PART TWO: THE STRATEGIES.
    • CHAPTER 6: Buy All the Stock You Want for Half the Price.
    • CHAPTER 7: Getting Paid to Buy Your Favorite Stock.
    • CHAPTER 8: Option Credit Spreads: The All-Star Strategy.
    • CHAPTER 9: A Day in the Life of the Market Maker.
    • CHAPTER 10: Put Your Stocks to Work—Sell Covered Calls.
    • CHAPTER 11: A Bonus Strategy: Ratio Option Spreads.
  3. PART THREE: GETTING READY TO TRADE.
    • CHAPTER 12: Tools of the Trade.
    • CHAPTER 13: Brokers and Commissions.

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