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Options Trading for the Conservative Investor: Increasing Profits without Increasing Your Risk (2nd Edition) Hardcover


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Options Trading for the Conservative Investor: Increasing Profits without Increasing Your Risk (2nd Edition) + Put Option Strategies for Smarter Trading: How to Protect and Build Capital in Turbulent Markets
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Product Details

  • Hardcover: 272 pages
  • Publisher: FT Press; 2 edition (January 17, 2010)
  • Language: English
  • ISBN-10: 0137042000
  • ISBN-13: 978-0137042005
  • Product Dimensions: 9 x 6.1 x 1.1 inches
  • Shipping Weight: 1 pounds (View shipping rates and policies)
  • Average Customer Review: 3.8 out of 5 stars  See all reviews (5 customer reviews)
  • Amazon Best Sellers Rank: #982,484 in Books (See Top 100 in Books)

Editorial Reviews

About the Author

Michael C. Thomsett has published more than 70 books on investing and business topics, including Stock Profits: Getting to the Core (FT Press, 2004) and many other books concerning options and stock market investing. His best-selling book Getting Started in Options (John Wiley & Sons, 2009) is in its 8th edition and has sold more than 250,000 copies. He has written many other books published by John Wiley & Sons, Amacom Books, and Dearborn. Thomsett lives in Nashville, Tennessee.


More About the Author

I have been writing professionally since 1978 and fulltime since 1984. Today I operate my options educational website at ThomsettOptions.com
From 1978 to 1984 I wrote part-time and also was a consultant in the financial services industry. Once I began writing fulltime, I began in the magazine journalism field as a freelancer. In 1985 and 1986 I wrote approximately 500 articles in business, trade and professional magazines. I then switched over to books exclusively and have written over 70 books. These include my own as well as ghost-written projects.
Today I like to work on multiple books at the same time, normally two or three projects. Being able to switch back and forth keeps the writing process fresh and interesting. I generally write from 7 a.m. until noon and spend afternoons on research.

Customer Reviews

3.8 out of 5 stars
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Most Helpful Customer Reviews

12 of 14 people found the following review helpful By New Economist on January 16, 2011
Format: Hardcover
I get a little annoyed by books touting these extreme option premiums and doing the math to show these impressive returns. For example, on page 15, he mentions a stock trading at 38 with a strike price of 40 and a call trading for 8. Wow, this is a 21.1 return! What is this a biotech stock with implied volatility of 200%? Later you get the drift that he mostly refers to LEAPS of 27 months! He only lists a few examples that aren't LEAPS and I suspect that is because it sounds better to say that one can make $800 on a $38 stock. Writing puts and calls for 27 months is ridiculous. Not only is your annualized return much lower, but by dealing with shorter time frames, you can hug the trend, earn a higher annualized premium and won't have your capital locked up for 2 years. For example, if you buy SPY, and then write a 2 year LEAPS call for 15 points higher, and then it gets beyond that in 6 months, do you really want to have your capital just sitting around during the remaining time waiting to be exercised?

He also overstates rolling calls that have become at or in the money. He at one point suggests one can roll these indefinitely. In a strong bull market, you may be continually rolling up a few strikes and out a few months, but eventually you are going to hit the last LEAPS series and will be stuck. In this situation you end up just delaying the inevitable loss or calling out of your shares.

Strategies like the 'ratio write' isn't what your average trader would consider a 'ratio write' where you buy a call and write two at a higher strike. No, his version is to sell some covered calls paired with a bear call spread. wtf? why not just call it what it is?

One thing that drove me nuts about this book was the REPETITION.
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4 of 5 people found the following review helpful By Robert Burgin on January 13, 2012
Format: Hardcover
In some ways, this is the best book on options that I have yet read. It certainly helped me understand selling calls, selling puts, and combinations better than any other book has. I also appreciated his constant reminders that he was discussing options in the context of a *conservative* portfolio.

However, the book is poorly structured, disorganized, and very repetitious. All of this makes it a bit difficult to pull out the pearls of wisdom.
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By Newmansdad on February 14, 2014
Format: Kindle Edition Verified Purchase
no shipping on this one. i got the online version and its great. where ever i have a pc i can do some reading.
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Format: Hardcover Verified Purchase
This author makes option complexities understandable. Best of all he delivers on the promise of the title with basic, common sense strategy.
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1 of 5 people found the following review helpful By John fitnessdoc on September 29, 2010
Format: Hardcover Verified Purchase
Very lucid for both beginners and the reasonably experienced investors
Possibly one of the best books for these two groups
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