• Get Rich with Options: Four Winning Strategies Straight from the Exchange Floor, 2nd Edition

  • Di: Lee Lowell
  • Letto da: John Haag
  • Durata: 7 ore e 20 min
  • Versione integrale
  • Data di pubblicazione: 03 08 2012
  • Lingua: Inglese
  • Editore: Audible Studios
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Sintesi dell'editore

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, 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. This book:

  • 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 websites
  • 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.

©2009 Lee Lowell (P)2012 Audible, Inc.

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  • P. O'Neill
  • 25 09 2012

Well presented strategies.

Buy this book if you already have decent options knowledge. If you don't speak the "options language", you might have a hard time understanding the strategies.

Not that this book isn't for a beginner, it's that the audio version isn't for a beginner. A beginner will need to see all the charts he is describing in the book to really understand how to place these trades.

Now, if you're already familiar with calls, puts, OTM, ATM, ITM, strike price, and all the other vocab you have to know to trade options, then you can probably handle the audio version.

He outlines 4 main strategies in the book:

DITM calls with a delta of .9 or higher. (The "D" in DITM stands for deep)
Option credit spreads. i.e. bull put spreads/bear call spreads
Selling naked puts.
Writing covered calls.

If you have already done all these things, the book is still worth checking out. He really explains Delta well and also gives some really good clues and insight on using volatility to your advantage.

There is also a great chapter on what life is like being a market maker. Great stuff in that chapter.

So, can you get rich doing this? Of course! Can you go to the poor house in a hurry doing this? Of course! If you're a person who is writing covered calls in order to collect high premiums without really wanting the underlying stock, you need this book. You will learn how to better hedge that strategy so you don't get hammered. Trust me, I've done that.....and I got HAMMERED! Do your homework on the underlying, hedge your position, and you won't get creamed. Honestly, if your goal is to beat the market average every year, you could easily do it with the strategies outlined in this book. I've done it for years and I'm getting better returns now that I am using the advice in this book.

He doesn't candy coat anything. He makes it very clear what the worst case scenario of each trade is. Don't selectively listen, do your homework and don't lose your retirement trading options.

One final note, he does plug a few websites that are pay sites. Reviewers on other websites nailed him for this in their reviews of this book. You do not have to have his pay site to implement his strategies. He also spends a good amount of time telling you where you can get option advice for FREE on the web so I don't know why those reviewers beat up on him so much for plugging his site. He points you to more than enough free resources to be fully informed on his strategies.

Good luck.

39 su 40 utenti hanno ritenuto utile questa recensione

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  • Amber
  • 07 01 2015

Great book but probably not the best audio book

I usually stay away from books that start with "How to get rich in..." But I decided to give this book a shot after reading some of the reviews.

I've been doing cover calls (one of the strategy taught in this book) for some times prior to listening to this audiobook. But the other three strategies gave me a whole new perspective in trading. I will never trade stocks the same way again.

If you're not familiar with options or new to trading I suggest buying the book instead. The author uses a lot of examples that requires charts and visualization from the book. Anyone who are not familiar with options can easily get confuse, bored, and lost.

I planned to buy the actual book and read it again for a better understanding of some of the strategies. Great book, if you're looking to make money in the stock market this is a must read.

10 su 10 utenti hanno ritenuto utile questa recensione

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  • Andrew
  • 03 06 2013

Good insight into option spreads

Any additional comments?

This is a good book that is fairly easy to follow. I do not recommend listening to it if you are not familiar with how options work. He does explain all the different parts that determine value of an option, but it's easy to get lost if you are not familiar with terms like Call, Put, Strike, In-the-money, Out-of-the-money, Beta, Volatility, etc. It can be difficult when he is referencing charts, but if you will get the idea of what the trade is trying to accomplish if you listen closely.

Overall, I think it is a worthwhile book. I hope I will be implementing some of these concepts in my future trading.

4 su 5 utenti hanno ritenuto utile questa recensione

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  • T. Plunk
  • 19 02 2013

"Rich" may be an exageration, but make money, yes

I liked this book. Very practical guide to options. Does a decent job of explaining the risks.

Don't jump into options if you are a gambler. I think options can be a good addition to your portfolio.

1 su 1 utenti hanno ritenuto utile questa recensione

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  • David
  • 25 01 2013

Very good!!!

It provides a pretty straight forward explanation on how each strategy works and lots of examples. good stuff

1 su 1 utenti hanno ritenuto utile questa recensione

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  • sixtiesdad
  • 06 11 2017

I hate to disagree but...

Really I don't want to challenge the author, but one of his main strategies is factually incorrect. Yes, I acknowledge that he knows options well, but I was a series 7 broker for 16 years with an advanced options rating from my employer (a major wirehouse that survived the 2008 debacle). To the point: He says that owning a DITM call is a safer way to own/control the underlying stock using less money than the price of buying the stock outright. Well, leaving out margin buying for stock that's fully marginable, and assuming that the expiration date is a few months out at most, he's right... but safer? Yes, stock can go down to zero. All options can also go down to zero. That includes his DITM option. Any option will go up and down as the underlying stock flucturates, and they can all lose much or all of their value -- both from time value decay and from the loss of intrinsic value because of adverse stock movement. He makes the point that DITM options are safer than OTM options because the stock PROBABLY won't reach the strike price before OTM expiration. How are DITM options exempt from that risk? Because the stock has to go further down to reach zero?? True, but If I pay $1 per share for the CHANCE of making money and lose it all because the stock went down twenty bucks, versus paying $20 per share and losing it all because the stock did the same thing, which is safer? I'll take the one dollar loss, thank you... with the chance to try again nineteen times with the money he put into just one position.

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  • Erik Matthews
  • 26 07 2017

Old book, great info.

I just wish I had read/heard this book, before ever paying for a trade school.

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  • Amazon Customer
  • 07 06 2017

the Blueprint

outstanding book.. wisdom is the most valuable asset in this industry and the author articulates that very well. I will be buying a hard copy as well

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  • Ronald Davis
  • 07 06 2017

Good Source Material

Solid audiobook with detailed explanations on various option strategies. Would have rated higher if book were a bit more up-to-date. (2007-2008 timeframe)

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  • Trent
  • 01 03 2017

Excellent Down to Earth Guide to Options

This is a good book for a beginner to intermediate options trader with a retail account. The first part of the book gives a good introduction to options. An intermediate trader may want to skip straight to chapter 6ish where he goes into his trading strategies. I was particularly fond of his chapter on credit spreads. My only critique is that I would have preferred a larger section on managing losses for those trades, although he does touch on it. Chapter 9 is nice break in the lessons as he gives you a feeling for life in the trading pits. Although this may not make you money, it gives you an appreciation for life before electronic trading which will make you a well rounded trader. His chapter on broker selection is pretty good as well, given the date of the book.

In summary, I think it was a good read that I will be referencing in the future. I believe any naysayers out there are just suffering from wanting a silver bullet. Options trading, like anything else in life worth doing, takes a lot of time and commitment to deliver success. The book demonstrates this and does not promise any great rich quick scheme. I admire Lowell for specifically stating in the conclusion to read all the free material you can prior to signing up for a "$2000 course". Thanks for sharing your experiences Lee!