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The New Options Market Hardcover – January 15, 2000
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From the Inside Flap
"...there is no method I know of that can be more rewarding in as short a period of time than trading in options. While it is risky, experience shows that trading in carefully selected puts and calls can produce an extremely high income on the amount of the investment." -from The New Options Market, Fourth Edition
If you're looking to get involved in the excitement, challenge, profit, and diversity that options provide, then this is the book for you! The New Options Market contains everything you'll need to know to start a profitable investment program in this increasingly popular market. From buying calls on a hot new stock and earning some extra cash by selling covered calls to selling uncovered options and buying puts, options expert Max Ansbacher will guide you through all the possibilities in the world of options and help you make the best decisions.
In this completely updated Fourth Edition, Ansbacher clearly outlines every option strategy in easy-to-understand language and includes detailed examples that show exactly how they work. You'll find out how each of these strategies can be used to make money and how you can limit your downside. The author also explains the best strategies that he has uncovered from over 25 years in the business.
You'll discover how to:
* Generate an income of 10% to 20% a year on your investment by selling calls on stocks that you currently own
* Sell options on stocks that you do not own for a return of up to 40% of your year's investment
* Make more money by selling the short-term and buying the long-term options on the same stock
* Realize large gains by buying calls and puts
Ansbacher also includes his "Ten Biggest Option Mistakes" and "29 Option Strategies from Extreme Bullishness to Extreme Bearishness." And he supplies you with invaluable worksheets to calculate your investment return using the various option strategies.
With its expert guidance and detailed information, The New Options Market, Fourth Edition offers you the best opportunity to come out a winner in options trading.
From the Back Cover
Become a savvy investor in the options market
The New Options Market, Fourth Edition
Referred to as the bible of options books, The New Options Market has groomed two generations of traders and investors for success. Now with this updated and expanded Fourth Edition, Max Ansbacher gives his unique and tested strategies to you! With the help of numerous real-world illustrations, appendices with over thirty Web site suggestions for options traders, and specific advice on option picks, he explains the basics of trading theory and practice. In easy-to-understand, nonmathematical language, The New Options Market, Fourth Edition, is a highly personal, and newly updated guide that is specifically aimed at options traders in need of knowledge that will lead them to success.
"Aimed squarely at the ordinary investor, The New Options Market provides a practical guide to the use and misuse of options as an investment tool. Max Ansbacher's book is an excellent starting point for investors seeking a clear, nontheoretical introduction to options." -Jack Schwager, Author of Market Wizards and The New Market Wizards
"As a broker on the S & P options floor for the past eight years, I find that The New Options Market, unlike other option books, represents a clear, practical approach to trading options. Both the professional and the novice will benefit from the comprehensive coverage of all aspects of option trading." -Kevin M. Maclean, V.P., Fimat, U.S.A.
"Max Ansbacher is a true professional-one of today's most experienced option brokers and traders. His expertise stands out in this new edition of his book as it has in the previous editions. The fact that Max is a maestro at writing options is evident in the quality of the chapters on option selling."-Lawrence G. McMillan, President of McMillan Analysis Corp. and author of McMillan on Options
Top customer reviews
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I am a professional commodity broker, and like many of you I've bought books about the complex world of futures trading, only to get home and find that a background in computational physics was required to get any further than the introduction page. What Mr. Ansbacher has done is to demystify a subject that many people (even professionals) don't really understand, even though they've read books on the subject and pretend to know: option trading.
Mr. Ansbacher's approach isn't what one would call simplistic. To the contrary, his approach is very exacting, methodical, and concrete. It's just that he has avoided lapsing into language that most readers couldn't grasp. And his approach will make many people who speculate in commodity options think twice about what they are doing.
The complex world of commodities is one where the investing public is constantly pitted against the professional traders, with predictable results. Mr. Ansbacher attempts to show the average (losing) trader the folly of what it is he's doing, and provide a roadmap to success and greater understanding. Anyone who wonders why he is losing money trading options should close his account, buy this book, and "go back to school." Highly recommended.
If you want to TRADE options then forget this book. The author has the firm belief that an option should be held till expiry. He therefore fails to sufficiently discuss the effects of dynamic variables on option price and leaves the reader with as good as no tips or strategies for TRADING options.
Technical traders will find this book insulting. The author assumes for the purposes of developing his strategies that in the end we all gain no more than the market average. It may be a contentious point but enough people believe in the merits of technical analysis and would have expected its consideration in a "bible of options", with a discussion and strategies for trading options in the short term.
In the book's synopsis (above), Jack Schwager rightly points out that the book is "aimed squarely at the ordinary investor". The lavish appraisals of Messrs Maclean and McMillan only do a disservice to their own reputations.
For the more conservative `investor' this book may be sufficient as a basic starter. Short term `traders' will be left with little more than could have been gleaned from basic info on web sites. For me the book left important questions unanswered. Spare yourself the frustration - spend a little more money and get a more comprehensive book!