Average Reviews:
(More customer reviews)A good read for those interested in trading options from a "net seller's" position. But a "complete guide" it ain't. Far from it.
The view from the authors is very narrow and they make unqualified assertions that their perspective is the only possible way to trade options profitably. (There are many professionals who make a living operating from a net buyer position as well.)
I really believe the authors completely skip the over any discussion of winning trading principles and focus soley on an argument for selling vs. buying options. There is risk both ways and the lack of a proper risk management discussion leaves a glaring hole in an otherwise good book.
Too much emphasis on selling naked positions. Spreads are briefly discussed but the only one recommended is a ratio write which still leaves exposure to naked positions. Eventually the worst happens in all types of trading, and those with naked short exposure holding overnight positions in options markets will experience something between a serious setback and complete ruin when it does.
It's a well-written and enjoyable book, but take it with a grain of salt.
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