- Hardcover: 288 pages
- Publisher: FT Press; 1 edition (February 2, 2009)
- Language: English
- ISBN-10: 0137142862
- ISBN-13: 978-0137142866
- Product Dimensions: 7.2 x 1 x 9.5 inches
- Shipping Weight: 1.6 pounds
- Average Customer Review: 16 customer reviews
- Amazon Best Sellers Rank: #1,254,873 in Books (See Top 100 in Books)
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Commodity Options: Trading and Hedging Volatility in the World's Most Lucrative Market Hardcover – February 2, 2009
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From the Back Cover
Don't Miss out on Today's Hottest Trading Arena: Commodity Options! "The authors have written the definitive work on trading commodity options. Their in-depth knowledge of this subject is legendary among industry professionals and expert traders alike, and their ability to relay their knowledge through text, pictures, and the spoken word is unparalleled in our industry."--Lan Turner, CEO, Gecko Software, Inc. "This book captures the realities of commodity option trading in a simple and easy- to-read presentation that will be beneficial for traders of all sizes and skill levels." --Chris Jarvis, CFA, CMT, Caprock Risk Management, LLC "Even the most experienced investors often overlook the fact that options on futures are fundamentally different from options on stocks. This book fills that gap and sets the record straight with clear and concise descriptions that are easy to understand. Guaranteed to become a true source of value creation for anyone interested in trading commodity options."--Jeff Augen, author, "The Volatility Edge in Options Trading" ""Commodity Options "arms readers with the strategies and tactics needed to take a more active approach to managing risk in today's turbulent markets. The authors exhaustively break down every component of a commodity option to its lowest common denominator, making this book an essential piece of information for those looking to expand their trading tool box or further build on existing option strategies."--John Netto, Chief Investment Strategist, NetBlack Capital and author, "One Shot--One Kill Trading" Investors worldwide are discovering the enormous opportunities available through commodity options trading. However, because commodities have differing underlying characteristics from equities, commodity -options behave differently as well. In this book, two of the field's most respected analysts present strategies built from the ground up for commodity options. Carley Garner and Paul Brittain begin with a quick primer on how commodity options work, how they evolved, and why conventional options strategies often fail in the commodity options markets. Next, using detailed examples based on their own extensive research, they show how to leverage the unique characteristics of commodity options in your own trades. You'll walk through trades from "top to bottom," master both long- and short-option approaches, and learn powerful strategies usually ignored in options books. For example, the authors introduce synthetic swing trading strategies that systematically reduce volatility from the market. This book's easy-to-use trading strategies are strategically employed by the author's clients every day: With "Commodity Options", you can work to put the odds in your favor, too! - Why commodity options are different-and what it means to you
"Understand key differences in the underlying assets and the logistics of market execution"- Systematically rewrite the odds in your favor
"Four ways to make winning trades more likely-and losing trades less common"- When to trade short options-and how to manage the risk
"Why careful option selling may improve your odds of success "- Master strategies designed for diverse market conditions
"Combine long and short options to create the right strategy for any market opportunity"- Exploit short-lived trends through "synthetic" swing trading
"Get the advantages of futures contracts without the volatility"
About the Author
Carley Garner is responsible for two popular investment newsletters, The Stock Index Report and Bond Bulletin. She is a senior market analyst, broker, and columnist at DeCarley Trading LLC located in Las Vegas and writes a monthly column for Stocks and Commodities. She has been featured in Futures, Active Trader, and Option Trader, and been quoted by Investor’s Business Daily and The Wall Street Journal.
Paul Brittain has 25 years experience in futures, including many years designing innovative trading techniques. He founded Commodity Trading School to offer free online trading seminars. As Alaron Las Vegas Branch Manager, he produces three newsletters: The Beast, BigMacDaddy, and The Optionologist. He has been quoted by many major news sources such as The Wall Street Journal and Bloomberg News, and is a sought after speaker/participant at industry shows across the country. He has written articles for industry publications Futures Magazine, Active Trader, and Stocks and Commodities, as well as been a featured trader in Traders Monthly.
Top customer reviews
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While the concept of using a combination of using options in conjunction with futures and options on futures are interesting ideas as I've been exclusively a futures by themselves and an index and stock options trader I found this book to be very light on details. Aside from some general ideas there wasn't as much as I'd hoped for new in this book. What was new was covered only briefly and I certainly wouldn't call it a good options primer either for new traders but, in fairness, that's not what the book presents itself as either. When they would touch on a subject that would really start to be of interest (to me at least) it would be cut short with something like "a whole book could be written on this subject" and they'd promptly move on to something else. You didn't have to write a whole book on it but couldn't you have written maybe even a few more paragraphs on it? The examples seemed contrived and the numbers seemed made up. I have no evidence of this. Just a gut feel though and my gut is not always to be trusted.
My review may seem harsh. I was going to give in one star but I think that may be because it had been so hyped to me before reading it and I was just very disappointed. The fact that there was new info in it may have warranted three stars even though it wasn't covered in detail. I split the difference with two stars.
While they did cover a couple of topics that piqued my interest to pursue them further I didn't get nearly enough info from this book to consider myself even properly introduced to them. I haven't read the other book I bought yet and, honestly, probably won't now. Too many others on my reading list and just not enough time. Maybe I'm disappointed because my hopes were so high going in. After purchasing these I feel about $80 poorer (both books) and about $5 smarter. At least the authors made money though.
Maybe I'm being overly critical of this book.
Not only do I recommend Paul's book but I also know that if you are serious about trading futures you would do well to subscribe to his futures option newsletter "The Optionologist" and should regularly attend Mr. Brittain's webinars at Commodity Trading School.
Prof. Scott Brown, Ph.D.
Associate Professor of Finance, University of Puerto Rico
Author, The Worry Free Wealth Guide to Stock Market Investing: FREE BONUS: 7 Hours of Audios! (Volume 1)
It contains a chapter that specifies the differences between stock options and commodity options, and the rest describes strategies using options.
There's nothing really new. The crash course is somewhat not clear, making me think that you should read something else before this one.
However, the strategies are well documented.
All in all, it is ok, but I have two main criticisms :
- this is not a "commodity options" book ... it is an options book, with commodity examples, and a chapter that describes the differences between commodities and stocks ... but the rest is pure "underlying-neutral" options
- this book seems to be an add for the brokerage service of the author... a lot of books are written in this way but here it really gets annoying, as you are reminded approximately on each page that you need a competent broker with direct access to the floor ... which is what the author is !
All in all, the book is average, or maybe even better than just average : the strategies are well explained, with graphs, easy to read and understand ... not a five star but an easy four star ... BUT I have to remove a star because this book is not what it claims to be !
A good book that discusses options strategies specifically dedicated to the futures market is "Trading Options To Win" by Johnston : funny to read but difficult to grasp, as there's no graph in it.
Most recent customer reviews
I've a good experience of Equity Options Trading, but no experience at all in Commodity Options Trading.Read more
Very helpful and very well written.Read more
This book really offers very little insight into trading the functional differences between underlying...Read more