Positional Option Trading: An Advanced Guide (Wiley Trading) 1st Edition

4.7 out of 5 stars 118 ratings
ISBN-13: 978-1119583516
ISBN-10: 1119583519
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Editorial Reviews

From the Inside Flap

Created for experienced traders who desire the significant benefits of including options in their trading strategies and portfolios, Positional Option Trading: An Advanced Guide shows readers how to find a trading situation with an edge, structure a trade, and control the risk.

Written in three parts, the first section of Positional Option Trading discusses the efficient market hypothesis and how, even if we accept it as true, it leaves plenty of room for the discovery of profitable trading strategies. These opportunities can be categorized as inefficiencies or risk premia, each of which should be traded differently. The author also discusses behavioral psychology and its ability to inform our strategies. Technical and fundamental analysis are explored as ways of finding trading edges.

Forecasting, as well as the overpricing of implied volatility are examined in the next chapters, while the section closes with a description of eleven specific phenomena that can be profitably traded.

The second part of the book discusses the distributional properties of some option structures used to monetize the trading edges revealed by the previously discussed techniques. Volatility trading structures and directional option trades are examined next.

Finally, the third part of Positional Option Trading discusses the concept of risk generally. The book closes with a description of specific topics like trade sizing and the idea of unknowable risks, using historical examples as a guide.

Perfect for moderately to highly experienced traders who hope to use option trading to reduce risk and increase returns in their trading strategies, Positional Option Trading belongs on the bookshelves of professional traders and money managers as well as those who wish to maximize the efficiency of their own portfolios.

From the Back Cover

Praise for POSITIONAL OPTION TRADING

???Euan Sinclair???s book provides an investor with a systematic quantitative approach for using options to enhance returns. Sinclair has worked for over 25 years in the options industry with two of the most successful market making firms. Drawing from his vast experience he exposes tricks of the trade that were previously only available to professionals or exchange members.???
???Blair Hull, Founder and Chairman, Hull Tactical Asset Allocation

???This book is another excellent example of Sinclair???s in-depth understanding of derivatives markets. Chapter 10 alone is worth the price of the book; it deftly explains the real-world pitfalls that one usually learns about only after suffering losses. With astute analysis, Sinclair guides his readers through the complex world of derivatives markets.???
???Arthur Duquette, Partner, Bluefin Trading

???Volatility trading is asymmetrically difficult either on the short side or on the long side. In recent years we have seen both long and short volatility shops going out of business ... Euan Sinclair manages to relay a strong message that the difference lies in finding trades with positive expected value, not with the sign of your trades. He proposes to analyze the term structure, fundamental factors, and earnings for edges. He suggests evaluating the skewness and trade sizing to monetize the edges. This book is a must-read full of knowledge for anyone working with and learning about options markets!???
???Artur Sepp, Director of Research, Quantica Capital AG


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Product details

  • Publisher ‏ : ‎ Wiley; 1st edition (September 1, 2020)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 240 pages
  • ISBN-10 ‏ : ‎ 1119583519
  • ISBN-13 ‏ : ‎ 978-1119583516
  • Item Weight ‏ : ‎ 1.09 pounds
  • Dimensions ‏ : ‎ 6.3 x 1 x 9.1 inches
  • Customer Reviews:
    4.7 out of 5 stars 118 ratings

About the author

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Euan Sinclair is an option trader with twenty five years of professional trading experience and holds a PhD in theoretical physics from the University of Bristol

Originally from New Zealand, Euan now lives in Chicago with his wife, dog and a large and variable number of cats.

Customer reviews

4.7 out of 5 stars
4.7 out of 5
118 global ratings

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Top reviews from other countries

Dr Minsky
5.0 out of 5 stars Best advanced option trading book
Reviewed in the United Kingdom 🇬🇧 on May 23, 2021
Alberto Santangelo
5.0 out of 5 stars Great book for both pro and retail traders
Reviewed in Italy 🇮🇹 on October 3, 2021
Lector ecológico
5.0 out of 5 stars Excelente aproximación para traders
Reviewed in Spain 🇪🇸 on September 24, 2020
Claudio Pernisi
5.0 out of 5 stars defintivio
Reviewed in Italy 🇮🇹 on February 6, 2022
Tony
5.0 out of 5 stars Very good book
Reviewed in Canada 🇨🇦 on August 2, 2021