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The Options Playbook: Featuring 40 strategies for bulls, bears, rookies, all-stars and everyone in between. [Kindle Edition]

Brian Overby
4.4 out of 5 stars  See all reviews (40 customer reviews)

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Book Description

The Options Playbook was created to demystify option trading and teach investors different option plays for all market conditions. No confusing jargon. No unnecessary mumbo-jumbo. Just clear, easy-to-understand explanations of more than 40 of the most popular option strategies broken down into a play-by-play format including:

Play Name: Long Call, Short Call Spread, Iron Condor, etc.
The Setup: The goals and reasons to run each play
Who Should Run It: Rookies, Veterans or All-Stars, based on degree of difficulty
When To Run It: Describes each play as bullish, bearish or neutral
The Strategy: A detailed overview of each strategy, their risks and the specific costs associated with multi-leg strategies. description

For the first-time option trader The Options Playbook features a "Rookie's Corner," addressing the basic definitions and concepts you need to understand this market, tips to avoid common beginner's mistakes, and suggested strategies to "get your feet wet."

For more experienced option traders, an expanded section on implied volatility explains how this handy variable can be used to find the potential range of the stock over the options life. A detailed section on pricing variables (Greeks) helps you understand how an option's price is affected by changes in market conditions. You will also learn how time decay and a change in implied volatility can affect your trade after it's in place and how to recover if things don't go according to plan.

The Options Playbook features Options Guy Tips from TradeKing Senior Analyst Brian Overby. Like any good coach, Overby's handy insights help you put theory into successful real-world trading.

This expanded 2nd edition includes 10 new plays and 56 new pages of handy content describing a brief history of options, five common mistakes options traders make and how to avoid them, an expanded glossary, how to manage option positions by rolling to a different month and strike, to explaining the difference between index and stock options, managing early exercise and assignment and how to calculate position delta and use it to manage overall position risk of a multi-leg option strategy.

Options involve risk and are not suitable for all investors. It is possible to lose more money than invested. Before making any investment decisions, please read Characteristics and Risks of Standardized Options that accompanies The Options Playbook and available at: tradeking.com/ODD.

(c) 2014 TradeKing Group, Inc. All rights reserved. Securities offered through TradeKing, LLC, member FINRA and SIPC.


Editorial Reviews

Review

Awards:
Winner, Best in Show: Corporate Image Category
2008 Financial Communications Society Portfolio Awards

Finalist, 2008 Insight Award for Customer Advocacy in Financial Services

Bronze Winner: Investing Category
2008 Axiom Business Book Awards

"An easy-to-follow guide on options that's worth checking out if you want to be 100% clear you know what you're risking and stand to gain by playing options."
--- Matt Krantz, USA Today, Better Know Your Option Options, November 16, 2007

"The Options Playbook is a valuable reference for Option Traders of all levels. Not only does it explain complex subjects like Implied Volatility and 'The Greeks' in a manner that is easy to understand, it does so with humor and an appealing wit. It's the kind of resource you will reach for every time you make an option trade."
--- James B. Bittman, Senior Instructor, The Options Institute at CBOE
Author of Options for the Stock Investor and Trading Options as a Professional

About the Author

Brian Overby is TradeKing'’s Senior Options Analyst. A veteran of the financial industry since 1992, Brian has served as an option trading specialist for Charles Schwab, a senior staff instructor for the Chicago Board Options Exchange (CBOE), and managed the training department for one of the world's largest market makers, Knight Trading Group. Brian has given over 1,000 seminars worldwide, written numerous articles on option trading and been interviewed by Bloomberg, CNBC, The Wall Street Journal, FOX Business and other financial media.

TradeKing was awarded the maximum five stars in customer service by SmartMoney Magazine in 2008 and 2009, based on mutual funds & investment products, banking services, trading tools, and research. SmartMoney is a registered trademark of SmartMoney, a joint publishing venture between Dow Jones & Company, Inc. and HearstSM Partnership.

Product Details

  • File Size: 8836 KB
  • Print Length: 162 pages
  • Publisher: TradeKing; 2 edition (September 11, 2009)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • ASIN: B00J8KC8NA
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Lending: Enabled
  • Amazon Best Sellers Rank: #39,380 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Most Helpful Customer Reviews
54 of 55 people found the following review helpful
4.0 out of 5 stars Great book for new options traders March 3, 2011
Format:Hardcover|Verified Purchase
In my opinion this book is excellent for new traders but I do not see a lot in it for more more experienced traders familiar with more complex strategies. The author is the senior analyst for Trade King so at times drifts into some plugs for the broker. However the writer has written a basic informative book with little dashes of humor and personality.
What you get with this book is a over sized glossy book bound like a very large spiral note book. I personally find the size of this book cumbersome. The book contains 40 basic option strategies for different market environments. You have plays for betting with the bulls, bears, or on range bound markets. There are strategies for profiting from capital gains on stocks, stocks going down, or delta neutral strategies for profiting on theta (time value deterioration) in options you have sold short.

Each strategy defines:

The Break even at expiration.
The Sweet Spot for maximum potential profit.
The maximum potential loss.
The possible margin requirement for each play.
It explains the effect of time decay for each of the plays.
The effects of changing implied volatility on each play.

The book also has option guy's tips on each play.

At the beginning of the book the author takes the time to explain every term used in options trading from the terms put and call all the way to the Greeks. He does a great job of explaining the pit falls of low volume options and the right time frames to play for different legs of his plays. You will learn all the players in the option game and how to properly roll your option plays

Excellent and easy to read and understand, step by step guide book for new option traders. Will be redundant for experienced option traders.
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19 of 19 people found the following review helpful
5.0 out of 5 stars This is what you need January 20, 2012
Format:Hardcover|Verified Purchase
The book goes over every option strategy that you will ever need for whatever situation. It explains, graphs, and walks you through each in good detail. It always mentions the best, worst, and medium outcomes for each strategy, as well as the effects of time and price.

2 things I wish I would have seen in the book:
- real examples of each strategy in use (or well, at least the most relevant ones)
- more explanation of the greeks and examples of them (it barely touches on gamma at all for example, but then again that's the least important of the greeks)

Yet the book does tell you in the beginning that it will do neither of those two things, so bummer. Everything else it does a great job at though. I think this is a must have for new, intermediate, or advanced options traders. You will certainly go back to it over and over again as a reference guide.

The book is well worth the price. Pay up.
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23 of 24 people found the following review helpful
5.0 out of 5 stars Great Options 101 January 21, 2010
Format:Hardcover|Verified Purchase
Having recently started working as a writer for an investment research company, this book has proven to be most helpful with my understanding of options. As an English major, I had no experience with the world of options, which is quite intimidating for someone without a financial background! This book nicely broke down options and option strategies, with a sense of humor that actually made it fun to read! I highly recommend this book for anyone with an interest in options, as this book is a delightful read for those venturing into the world of option trading!
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19 of 20 people found the following review helpful
5.0 out of 5 stars I Give This as Gifts July 30, 2011
Format:Hardcover|Verified Purchase
I purchased the first edition and was very satisfied. When the second edition came out, I purchased it, too. The second edition is even better than the first. It has a bunch more strategies and more general information. I think that it is a really good general reference to have if you are an options trader or a student. It explains in sufficient detail the various strategies and how to employ these strategies. I have given this as a gift to friends who are interested in options. I can't speak highly enough of the book, it contents or it's author. I've met the author, BTW, and he is a great guy. I would recommend this book without reservation to anyone who is interested in self-directed options trading.
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10 of 10 people found the following review helpful
5.0 out of 5 stars Excellent beginners guide to options February 5, 2011
Format:Hardcover|Verified Purchase
If you are interested in adding options to your array of investments and you have no background using them, this is a great educational tool to help you get started. Well written, clear and precise, it stays out of the weeds and gives you enough instruction to ensure you'll understand most straightforward trades before you make them.
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12 of 13 people found the following review helpful
Format:Hardcover|Verified Purchase
This book has a lot of good strategies to it. There are ways to play volatility, trends, theta decay, spreads and many other strategies. Brian Overby, the author, tends to buy options where I may go more toward selling premium, but the ideas are similar, the set up is slightly different. Some may find this book to be 'too much'. For those, I recommend starting out with the easier strategies and get a handle on how the options work. Advance when the options are having good success for you. For those that think it may be too simplified, I don't believe getting into more detail of the gamma or rho factors in an option is going to improve your trading. I think the idea is to understand how the strategies work, find 2-3 that you can use in the market condition, and use them to trade. No need to know every product and way of trading, they all won't work at any point in time.

I have used this book as I look at my charts and look for strategies that may work for the stocks on my watch list.

Easy to use, written in plain simple terms and a great tool to have by the monitors.

I do recommend and use this book.
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Most Recent Customer Reviews
4.0 out of 5 stars Excellent Reference! But just that...
Excellent reference material! Note that this book is not written to discuss trade setups or entry/exit/adjustments. Read more
Published 17 days ago by A. Bagchee
5.0 out of 5 stars You will never find a complex subject explained as understandably and...
There are authors and writers. Of course books are usually written by an individual wearing both hats. Read more
Published 29 days ago by James I dahle
5.0 out of 5 stars Great Book: I won my University trading competition by 1463% (Or...
This book is now my Options bible. I went from dead last with zero chance of coming back in a university trading competition ($41k down from $100k due to a string of bad earnings... Read more
Published 1 month ago by John David Yearwood
3.0 out of 5 stars will do.
a quick read. too scared to get started on the strategies though. will need more reading. a good pickup for a quick learn if u r already into this stuff though.
Published 1 month ago by Amazon Customer
4.0 out of 5 stars Four Stars
Very good book for beginners.
Published 2 months ago by Stanley Yim
4.0 out of 5 stars fun and easy to understand
Just started but easy to understand
Published 2 months ago by David S. Geller
5.0 out of 5 stars perfect for beginners!
Its great for a starter/rookie on options. Easy understanding and great guide to selecting the best option for your Option.
Published 2 months ago by oz
4.0 out of 5 stars Good book for someone who already trades options....
Good book for someone who already trades options and wants to take their trading to the next level.
Well illustrated and easy to follow. Not so much for newbies.
Published 3 months ago by Amazon Customer
5.0 out of 5 stars Excellent Book on Option Trading Strategies
This book arrived quickly. It is excellent. The book is detailed yet easy to read.
Published 3 months ago by Jim Epperson
5.0 out of 5 stars Five Stars
Great product! Fast shipping! Satisfied customer!
Published 3 months ago by KEVIN T OBANION
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More About the Author

Brian Overby is TradeKing's Senior Options Analyst. A veteran of the financial industry since 1992, Brian has served as an option trading specialist for Charles Schwab, a senior staff instructor for the Chicago Board Options Exchange (CBOE), and managed the training department for one of the world's largest market makers, Knight Trading Group. Brian has given over 1,000 seminars worldwide, written numerous articles on option trading and been interviewed by Bloomberg, CNBC, The Wall Street Journal, FOX Business News and other financial media.

TradeKing was awarded the maximum five stars in customer service by SmartMoney Magazine in 2008 and 2009, based on Mutual Funds & Investment Products, Banking Services, Trading Tools, Research, and Customer Service. SmartMoney is a registered trademark of SmartMoney, a joint publishing venture between Dow Jones & Company, Inc. and HearstSM Partnership.

Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options: http://www.tradeking.com/ODD.

The above content is provided for educational and informational purposes only. TradeKing provides self-directed investors with discount brokerage services, and does not make recommendations or offer investment advice. You alone are responsible for evaluating the merits and risks associated with the use of our systems, services or products. (C)2007-2009 TradeKing.


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