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Options for Risk-Free Portfolios: Profiting with Dividend Collar Strategies 2013th Edition

2.6 out of 5 stars 5 customer reviews
ISBN-13: 978-1137282576
ISBN-10: 1137282576
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Editorial Reviews

About the Author

Michael Thomsett has written over 70 books on the topics of options, trading, investing, real estate, and business management. He has also written two history books (The German Opposition to Hitler and The Inquisition), four specialized dictionaries, and five books of quotations on specialized topics. Thomsett's six best-selling books have sold over one million copies in total. He currently teaches at the New York Institute of Finance.

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Product Details

  • Hardcover: 293 pages
  • Publisher: Palgrave Macmillan; 2013 edition (March 5, 2013)
  • Language: English
  • ISBN-10: 1137282576
  • ISBN-13: 978-1137282576
  • Product Dimensions: 6.3 x 1.2 x 10.9 inches
  • Shipping Weight: 1.1 pounds (View shipping rates and policies)
  • Average Customer Review: 2.6 out of 5 stars  See all reviews (5 customer reviews)
  • Amazon Best Sellers Rank: #2,436,077 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Hardcover
Worst book I have ever read (detailed reasons for my review below)

I just decided after reading 70% of the book that I can't take it any more. I am absolutely amazed at the very elementary mistakes in the book. It has left a very poor impression. Initially I thought I will not bother, but then considering the amount of effort I took in getting the book yesterday, I think it is my duty to post this. This is by no means a comment on the strategy itself. If a collar is done properly can be a good strategy...however I see little honesty in the way the author has tried doing the collars...the reason I am using such strong words is because the author has conveniently ignored Bid/ask spreads to prove his point.....he repeatedly gives examples (details below) of selling Calls at Ask price instead of using the Bid...well he gotto think the market makers are all fools.....initially when I strated noticing the errors, I didnot pay so much attention as I thought it must be a typo...however as I kept reading, I realized that it was not only WRONG information, mistaken calculations but it was also plain and simple dishonesty....yes when someone is trying to prove a point by repeatedly using the ask price for selling options, I call it dishonesty. it can be seriously misleading to a new option trader and what apparently is a good strategy will lose money as the bod/ask spread is a fact of life in trading.

There are multiple errors in the book. Here are some of the examples:

Example - 1

Page 96 (chapter 4 - Downside protection, The Insurance PUT), last paragraph:

"For example, you purchased 100 shares of AT&T (T) at $32/share in April. By June 14, the price has risen to $35.21.............
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Format: Kindle Edition
I found this to be a most informative book. Have been looking for an almost risk free option strategy and if it works, this could be it. I will have to try the strategy to see if it works and hope to revise this review if I succeed. The book spells out the strategy in detail as well as alternative strategies one might try. The author is on twitter and email and is always willing to share his expertise. I do agree with a prior post that maybe too much time was spent on other strategies and possibly more detail would help on the collar. That is the only reason I took off 1 star.
Anyone trading options should read this not only for the collar strategy but for the other strategies discussed in the book. I believe the author is really out to help others rather than just to profit for himself.
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Format: Kindle Edition
I don't think I'll ever buy another book, course, or seminar where the "educator" uses a demo account. It is entirely possible to wrack up hundreds of thousands of dollars of monopoly money using a demo account, and then tout the next best trading system. Michael Thomsett is yet another demo trader, and if you follow his tweets he posts daily about yet another huge percentage winner he has with his methods. He rarely tells you that it is only on a demo account.

Think of it this way. If these people REALLY made such HUGE profits, why don't they trade it live? What's so scary about going live if you are wracking up such huge gains on your fake account? Something is holding them back, what can it be? If the system were really THAT good they would trade it, not merely play a game with it.

Beware of all option "educators." Very rarely will you find one that trades live, that has skin in the game, and that will show you every live trade, good or bad. Everyone else hides behind the old warn out "this is for educational purposes only", meaning I don't trade this way myself nor is this a recommendation, it's just for "education." Steer clear of this stuff!

This particular book is now somewhat outdated as Michael now uses different method for calculating his prices, still using demo dough of course, and does not include any commission fees.

I will give all "option education companies" that demo trade only a 1 star. They're practically useless.
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Format: Hardcover
I bought this book and while there may be some errors, the concepts presented are sound. I am glad I purchased the book.
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Format: Kindle Edition
I like some of Thomsett's earlier stuff, but this one seems to be selling snake oil. The opportunity this book is looking for are very rare even by the authors admission, I have yet to find any. Although Mr Thomsett claims otherwise, the main strategy seems to be dividend arbitrage. It looks for miss-pricing between the synthetic short stock (buy put, sell call at same strike) and buying the stock and collecting the pending dividend. It can look good on paper (although even that's rare), but by the time you factor in commissions and the risk of the short call going ITM and being exercised (and you being forced to PAY the dividend) , not certain there is any opportunity for the retail investor. Learn how to master vertical call spreads instead, and leave the arbitrage related strategies to the professionals.
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