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Generate Thousands in Cash on your Stocks Before Buying or Selling Them: Third Edition Hardcover – June 30, 2007
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Choice 1: Wait until the stock gets back to $40. May take Years!!
Choice 2: Throw in another $18,000 to buy 20,000 more shares. Your average is $2.76/share.
What if you do not have the $18,000 or the stock drops further to $0.50 after you buy? Better than 1 but Not a good choice
Best choice: Without spending any of your own cash sell someone the option to sell you 20,000 shares of Lucent at $2.50 within 2 years. You will receive $40,000 immediately . you will get to keep the cash if the stock reaches $2.50 at any time in 2 years. You will not lose any cash even if the stock drops to $0.50.
If the stock has bottomed, (A simple test in the book will show you how) you could use part of the cash ($18,000) to buy 20,000 shares of Lucent and have $22,000 cash left.
On 11/29/2002 LU closed at $1.76 and the option you sold for $2.00 are now at $1.40 . You could buy the option back for a profit of $0.60/share or $12,000 total profit and sell the 20,000 shares you just purchased for $0.80/share profit or $16,000 total profit. You have now recovered $28,000 of your $39,100
In fact this is just one of the techniques described in this book that will help you recover your losses while generating cash. --This text refers to an out of print or unavailable edition of this title.
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Having said that, I have learned more useful trading techniques from this 3rd edition of "Generate Thousands in Cash on your Stocks before Buying or Selling Them" by Dr. Samir Elias then I have from all the other books I own. This was a fascinating book to read, and if you have experience in the turbulent trading markets of the last few years, you can not help but be captivated from page one. In fact, I read it again as soon I finished it, just to make sure that I didn't miss any key points.
He has a unique writing style that cuts through all the clutter and gets right to the heart of the matter. If you have no background in options trading prior to reading this book, you would be well advised to read up on them before reading this book. Ron Ianieri's "Options Theory & Trading" being a great place to start the journey.
The techniques Dr. Elias uses to generate option income on stocks are presented clearly. In addition to options trading, there is a wealth of information on general trading methods that is extremely valuable to any trader. I know of no other book that gives a trader such a clear road map to achieving success in the stock maket.
If I was asked to suggest one book that could help a new trader learn how to trade successfully, it would be "Generate Thousands in Cash on your Stocks before Buying or Selling Them", hands down.
Pass this one over and you will do so at your own peril.
I stayed away from options, since in my personal research I concluded that due to the time deterioration nature of options and their complexities, I saw no way of trading options and winning-- ever.
While I kept losing money, I heard that my uncle was doing well in options. I couldn't believe it. I didn't believe it-- since I also heard that he didn't have a computer and lived in rural Georgia, talking only to his broker by phone and working with paper statements. I made it a point to interview my uncle, only to discover I indeed had a "rich" uncle with a "system" that worked. This "system" he merely said was "common sense"-- but after he explained it to me, the lights came on.
I then searched Amazon for books that specifically talked about the ONLY TWO options transactions my uncle traded with: money-secured puts and covered calls. I was led to this book by Dr Elias.
The first 11 Chapters are the most important-- and it is important to note that when Dr Elias is talking about calls or put transactions in these chapters, he is almost exclusively talking about money-secured puts and covered calls. There is only one place in the book where he warns you that to BUY a call or BUY a put places you in a position where you are working against the clock and that every minute, your investment is losing value. Take that warning to heart!Read more ›
The book does an excellent job with example after example of trades where the author trades around a core position generating thousands in profits while limiting risk by buying a stock through selling an in the money naked put, then after purchase selling covered calls when the stock reaches the top of a range and also selling more puts to buy additional shares when the stock gets to the bottom of the range. This strategy at times can remove up to 50% of the cost basis in a position in a few months. What was so amazing to me was that the strategies in the book can even work to generate profits in a stock position in a downtrend or at least greatly limit the losses.
The book wants you to profit from the fact that 75% of all options expire worthless. Some of the basic principles of the book are to buy back call options when they are worth 25% of the sell price. The idea is to lock in your profit and to repeat this process several times and not have to wait for the option to expire. Do not sell covered calls right after a steep fall in the stock price. Wait until it reaches 20% above its 20-day closing low to do that.Read more ›
Most Recent Customer Reviews
This book contains new and creative ideas that I have not encoutered in other option trading books.
This point is acknowledged by the majority of reviews which in my opinion... Read more
Very poorly edited book mainly on using options and technical analysis.
The book suffers from poor editing and poor layout. Read more
Although the system explained in the book can be put to good use, it is very complicated and the book is too long trying to explain it. Read morePublished 2 months ago by Justin Time
this is my second copy; gave away first copy to friend, who is full of praise for this book.Published 4 months ago by mary chang
I learned a number of very useful and profitable strategies from this book. This book stresses the importance
of incorporating the underlying security's behavior into the... Read more
So, I am NOT living the dream; but at least I can dream the dream. Unlike so many helpful reviewers before me, I'm not really playing the market. Read morePublished 9 months ago by 4321dud