Two traders were bullish on the stock market. The first translated his market opinion into a purchase of S&P 500 futures. The second bought slightly out-of-the-money call options instead. The market moved immediately lower. The futures trader began to feel heat as prices moved downward. Soon, he had to liquidate because the losses and potential losses were too great. The options trader was secure in the knowledge that no mater how low prices went, the trade would lose no more than the original premium paid up front. Prices began to rally. The futures trader had lost some confidence and did not establish new long positions. The options trader was able to participate in the market rally.
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7 of 8 people found the following review helpful:
2.0 out of 5 stars
errors, errors, errors,
By A Customer
This review is from: Trading in Options on Futures (Hardcover)
This book is clearly written and thorough. I would have given it at least 4 stars, except for one thing: it has more errors than any book I've ever read (and I've read thousands). It has sentences that make no sense or that you have to interpret because words or phrases are misplaced or jumbled. It has math misprints and math errors all throughout. You would not notice many of the math errors unless you worked through the equations and examples in the book. Otherwise, this book is good enough that is should be updated and rewritten.
1 of 2 people found the following review helpful:
5.0 out of 5 stars
Trading in Options on Futures,
By A Customer
This review is from: Trading in Options on Futures (Hardcover)
There are lots of books on options but this book stands out above all the rest. It is clearly written with lots of practicle examples. It also is one of the only option books which shows how market makers make markers. Also, risk managers would be interested in the portfolio analysis section. This is a great book for option traders.
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