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

4.3 out of 5 stars 73 customer reviews

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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)
  • Publication Date: September 11, 2009
  • Sold by: Amazon Digital Services LLC
  • Language: English
  • ASIN: B00J8KC8NA
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Lending: Enabled
  • Enhanced Typesetting: Not Enabled
  • Amazon Best Sellers Rank: #31,041 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Top Customer Reviews

By Steve Burns VINE VOICE on 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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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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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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Format: Hardcover
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 reports surprises and a horrible options misplay), to dominating with over $1.5M and a 1,490% return thanks to buying this book, reading, highlighting, and fully annotating it, and applying it. I also managed a P/L of $1M in the last day. A screenshot is attached for anyone who doesn't believe (names have been mosiac'd to protect the innocent, and i'll probably upload a higher quality screenshot when I'm at home again). I'd recommend everyone get this book, as it walks you through the basics for options trading in a very clear cut way and lays out the absolute essentials while avoiding confusion, and helps you pick the best trade for the play.

This book tells you the following for EACH PLAY:
The setup, The skill level required, when to run it (bullish, bearish, neutral, or unsure), A P/L chart as related to share price at opening, The strategy's essential points, The author's personal tips, What break even will look like at expiration, The sweet spot for profit at expiration, the maximum potential profit, the maximum potential loss, the margin requirement (if any), how Time Decay affects the position, and how Implied Volatility effects the position.

It does this for 40(!) option plays, simply and easily. It also tells you how/when to roll positions, how to watch the greeks (delta, gamma, theta, vega), why/when to cash out, discusses early assignment (important!) and gives some basic mistakes traders make and how to avoid them. This book is absolutely amazing in every way and I'd recommend it three times over to anyone considering options. It certainly helped me.
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