Great reference with concise explanations

books:


	• The Options Playbook Brian Overby and TradeKing TradeKing, 2007 - 101 pages average customer review:based on 12 reviews view larger image
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highly recommended

Works for me

The "Option's Playbook" is straightforward in explaining the basics of options and options trading. It also lines out the different strategies and what their purpose is.

Great reference with concise explanations

This book is an excellent reference and I find I refer to it often. The author spares the theory and gets right to the point of each "play." The trades and positions are explained very well and categorized for you. The book also provides insight and recommendations of the skill level needed to manage the various trades. You can lose all your money when trading derivatives such as options, all you control is how much you risk. The book also provides tips on setting up the trade, risk management, margin requirements and recommendations on the types of securities suitable for the trade discussed. It rates each play to the skill level required and if you are new, I would not start out with Veteran or All-Star plays. The diagrams really help you visualize what you are trading and how to see your position play out. For studying topics like being delta-neutral or negative gamma, I'd recommend Jeff Augen's book.

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Effective, but disappointed

Brian Overby is an extremely helpful teacher of the science of options. The videos that he does with the Chicago exchange make this very clear. In addition, his material at TradeKing addresses almost any question you could raise and in a clear and cogent manner.

In this book, you will see laid out in the simplest possible manner all of the major option strategies. It is a very effective introduction to a very complex topic, which is often made more complex by the proliferation of words and superfluous information given in many other books.

I was disappointed for 3 reasons.
1. There was a coupon with the book which would have put money in a TradeKing account for me but I couldn't use it because I already had one. So don't open your account first if you are thinking of it.
2. Although it's great to be simple, it would have been nice to have a little bit more text in this book. Perhaps a FAQ or some very basic chapters on things like money management, etc.
3. For what I got, I felt it was too much. This book should sell for $15. At that price it's really a gem. At $35, it's a bit of an overpriced reference.

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Lots of Great Option Plays

I bought this book hoping to find all my favorite volatility plays neatly arranged for ease of reference. But the double-ended spread orders featured are practically all stability plays, wherein the trader profits when the underlying stock holds steady. Nice book but I'll wing it for now.

The cure for investment anxiety

I purchased this book as a possible resource for a client who wanted to learn about the options market, and, after reading it, I began to recommend it to everyone I know who's into or has investments. This book explains, in 'plain' language, how to use options to protect the value of the stock you own, and make money with anxiety-free options trading. The presentation of the material is clear and straightforward, as it should be, because it is designed to be a working manual for the TradeKing service. It was a stroke of genius to call this a playbook, because work it is not. The convenient format makes it possible to lay it out flat - the book is very well designed.

This book may be too simple for those, who like me, are skilled at predictive methods and the math behind the markets, but, for new investors and those who want to make more out of their current investments, it has plenty to offer. This playbook is a much better investment than one of the courses sold on TV or the internet that cost more than 10 times as much, and is one of the best first steps on the path of options trading that I've ever seen.

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reviews: page 1, 2, 3

The Options Playbook was created to demystify option trading and teach investors different option plays for all market conditions. No confusing jargon. No unnecessary mumbo-jumbo. Just clear, easy-to-understand explanations of more than 30 of the most popular option strategies (or plays ) broken down into a play-by-play format including:

Play Name: Long Call, Short Call Spread, Iron Condor, etc.
The Setup: The goals and reasons to run each play
Who Should Run It: Rookies, Veterans or All-Stars, based on degree of difficulty
When To Run It: Describes each play as bullish, bearish or neutral
The Strategy: A detailed Overview of each strategy

The Options Playbook also features a "Rookie's Corner," which addresses common mistakes made by beginning options traders and suggests strategies to on how to "get your feet wet". There are also sections on implied volatility (explaining how it can be predictive of the future price movement of the underlying equity), basic option terms described in easy-to-understand language, a description of how time decay and a change in implied volatility will affect the trade after it s in place, and a basic description of the Greeks and how they measure certain variables that affect options pricing. You ll also find a variety of options trading tips for beginning and experienced traders throughout the guide.

Options involve risk and are not suitable for all investors. It is possible to lose more money than invested. (Although we like to think you'll be smart.) Before making any investment decisions, please read Characteristics and Risks of Standardized Options, available at: http://content.tradeking.com/wiki/display/tkservice/Characteristics+and+Risks
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