The options tool of choice among traders and investors around the world.
The Option Wizard Trading Method
The professionals say:
"The Option Wizard Trading Method presents a series of common-sense rules for trading -- from analysis methods to the proper considerations for purchasing or selling options. These, coupled with a risk management system, should provide an excellent approach to trading options."
Lawrence G. McMillan, leading options analyst, author, founder, McMillan Analysis Corporation
My experience from many, many years in the business: the options sellers do better than the options buyers. There is a different mindset between them, and a great gulf between them. It takes capital and it takes patience to succeed being on the sell side. Option Wizard software and the publication Option Wizard Trading Method magnifies the sell-side possibilities with its price-time decay table and mindset to "not neglect the short side." The Option Wizard Trading Method is an entertaining, yet meaty read. We commend both to the neophyte as well as the experienced trader.
Jay Shartsis, Director, Option Trading, Lafferty & Co. Options Brokers, New York
Options Columnist, The Striking Price, Barrons
"The Option Wizard Trading Method is a very good piece of work -- valuable insights and options lore no trader should be without. Explains how to profit when the product 'never stops dancing.' Very readable, too."
Jerry Kopf, principal, Benjamin & Jerold Stock & Options Discount Brokers, Chicago
Former CBOE market maker and publisher, The Blue Page (options newsletter)
"I am not a systems player nor do I believe in any indicators other than the last sale (tick). However, there is much worthwhile information in the Option Wizard Trading Method.
"This is a very readable and expert integration of stock and options analysis, strategy, case histories and Eastern thought. Will sharpen your trading vision. Very well done. Highly recommended."
Edward Allen Toppel, author, Zen in the Markets
"I have been active in the markets since 1973 and Option Wizard is easily the most comprehensive options system I have seen to date. It is the only program available to the public that easily calculates implied volatility and percent-to-double. This is poetry for Excel.
"The companion text -- the Option Wizard Trading Method -- is a real potent dose of reality for those who wish to trade options, and while it will not always tell you the things you want to hear, it will tell you the things you need to hear to be successful. It offers off-the-beaten track insights into a number of areas: trading the short side of options, volume formations in large and small stocks, which stocks to follow, how often to trade, among others. I recommend this one highly."
Bob Hockenhull, Cutter & Company Brokerage, St. Louis
The Option Wizard Trading Method is one of the most enjoyable technical trading books to read, and most valuable to learn from, that I've come across. The insights here -- especially the emphasis on volume and trend -- here are valuable not only to the novice, but to the seasoned as well.
Spencer A. Brownell, financial consultant, Merrill Lynch Private Client Group, Chicago
A great presentation. Straight forward and to the facts.
Professional Trader and System Developer, Los Angeles
Of all the books that I have been studying I found The Option Wizard Trading Method book the most helpful. It was the only one talking me through several expiring scenarios. I liked the stream of consciousness style used to express your reasoning for taking certain positions and your subsequent actions and reactions to the mood of the market. Thanks again.
Ft. Lauderdale, FL
Very well written, clever insights.
I have started reading your "philosophy" on trading as well and have found it quite stimulating. I am intrigued and heartened to read your opinions on trading.
Very well done. Although I still consider myself a better-than-average amateur in the world of options, I spent much of my life translating Greek, Latin, Hebrew and a few others. I really enjoyed reading a book that is one part experiential mathematics and one part eastern philosophy.
My copy is dog-earred . . . Im on my third read. Great!
Option Wizard Trading Method
120 pages, Adobe Acrobat pdf, © 1998, 1999, 2000, 2008
Download location returned to your browser page instantly after purchase via the Option Wizard Online Store.
Energy 11. In battle there are only the normal and extraordinary forces, but their combinations are limitless; none can comprehend them all.
Sun Tzu, The Art of War
Options are an extraordinary force because they offer leverage. Leverage permits you to control a relatively large position with a relatively small outlay. Nevertheless, there is a price for this power. Options are complex, more so than many realize, and must be treated differently than stocks, indices and futures.
With the help of a tool like Option Wizard, the complexity can become your ally. The Option Wizard Trading Method tells how . . .
TABLE OF CONTENTS
- Preludes of empowerment (page 1)
- Preludes of warning 1
- A picture and 2,263 words 2
- Not turning back? 4
- What is here? 4
- Why trade at all? 5
- Trading is . . . 5
- Why trade options? 6
- Options are different 6
- Leverage 6
- Time 6
- Volatility 7
- Probability 7
- Limited Risk 7
- Short Sale 7
- Supercharged Trading 7
- Trading Psychology 7
- Relying On Mind 8
- The Bavelas Effect 10
- Ockham's Razor 10
- How Marcia Clark Denied Reality and Lost the "Trial of the Century" 11
- Money Management: Quantify Risk 12
- Fundamental Analysis 12
- Investors: Buy the company not the stock 12
- Traders: Find Catalytic Change 13
- Technical Analysis 13
- The Force Index 14
- The Effect of Change: King's Law of Prices 14
- Measuring the Major Event 14
- Building the Force Index 15
- Seven Trading Rules 15
- Examples 17
- The False Breakout: Force Index feint and bob 22
- Non-household names. 22
- Household names 23
- The Trend: Moving Averages, Trendlines, Slope 23
- The Momentum (Stochastics) 24
- Forecast 24
- Option Wizard Analysis 24
- Input the 6 Black-Scholes variables: 25
- Review the 12 Option Wizard outputs 25
- Historical volatility 25
- Option price: fair value 25
- Implied volatility 25
- Volatility: implied vs. historical 25
- Option premium decay table 26
- Option premium decay charts 26
- Percent to double, or stock-option movement 26
- Probabilities 26
- Delta table 27
- Greeks 27
- Strike Series 27
- Spread Tables 27
- Option Wizard Trading Rules (21) 28
- Case histories 30
- Selling Volatility 31
- Expiration 37
- Buying Calls: 39
- Buying Puts 40
- Probability: 41
- Repair 43
- Tax 46
- On Trading: Actionless Activity: 49
- On Trading: Short Selling 55
- Media as a contrary indicator 57
- Options Information on the Internet 63
- Going forward: what's next? 65
- The Force Index 70
- Top Ten Options Mistakes 80
- How Great Traders Go Bad 84
- Love, not Ego 89
- Trillion Dollar Bet 91
- Selling Puts 102
- Appendix A. Suggested Reading 112
- Appendix B. What is Wealth? The Narcissus Survey 114
- Appendix C. Option Wizard Trading Method Summarized 115
Extraordinary Comebacks: 201 Inspiring Stories of Courage, Triumph, and Success
NEW! Making a comeback? Know someone who is? If we learn by example, these are the lives to live by, one reviewer said. Financial comebacks from the likes of Market Wizard Mark Cook, George Soros, Chris Gardner, and Donald Trump, plus businessmen Jim Clark, Wally "Famous" Amos, Bill Gates, Lee Iacocca, Steve Jobs, Ray Kroc, Ted Turner and many more. "Amazing compilation," say Ken Dychtwald, best-selling author, The Power Years, and CEO, Age Wave. New nonfiction by the creator of Option WizardŽ products, and Scan Wizard™. Terrific gift. More...
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