Average Reviews:
(More customer reviews)"No-Hype Options Trading" is a great guide on how to go about consistent delta neutral trading without being overly optimistic about large windfalls. The author is quite frank about this style of trading being conservative but not easy. He spends his chapters on detailed strategies for placement of trades and more importantly how to adjust the trades or exit. He pays particular attention to iron condor trading. The book provides a range of exit strategies based on risk/reward, experience trading, and the Greeks. You can feel his concern for the trader's financial well being. He explains how to determine and set up the signals for exit and adjustment. He insists that a successful trader needs these potential exit/adjustments in place right after the original investment trade is put in place. It is not safe to make these trades without a strategy and adjustments that are in play on the day of the trade. Constant vigilance to the trade is necessary for success.
The chapter on calendars pushes the concept that while the underlying price effects the trade, even more basic and extremely influential is a drop in the positions volatility. He dwells on the significance of the volatility difference in the legs of the trade also. These points alone may change the way you trade calendars and increase your success and profit.
If you are looking for some precise guidelines on how to make delta neutral option trades in the condor, butterfly, and calendar world and detailed methods for exits or adjustments, you will be taking notes out of this text. I feel that I will make back the price of this book in my trading this month, many time over.
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