Good books on option selling?

[dagnyt]

Quote from ivanbaj:

There was a very interesting blog of a guy who was writing ES options. He had 18 plus profitable months.

The entry on the blog around 10.10.08 was something like this:

Yes you all know my positions and I did have a substantial loss. I am not going to tell you the exact number for psychological reasons. I will take a brake for while and see what I will do next.

Big negative gamma will get you sooner or later.

One way to do it is to bet big few times and hope you will win and then if you do quit forever. But in this case why not Vegas with drinks and all...

This person you quote - and his approach are exactly the reasons why learning from the <i>right</i> books provides the background information necessary to become a successful option trader. Anyone can gamble with options, but that's not an intelligent approach.

In addition to providing detailed guidelines for six different premium selling strategies, I teach my readers the importance of risk management and stress that preservation of capital is the number one priority for a trader.

The Rookies Guide to Options is geared to the beginner, but contains some more advanced material. But, the key is to avoid the ignorance of the quoted blogger who thinks options trading equates with Las Vegas gambling.

Mark
http://blog.mdwoptions.com/options_for_rookies/

 

[jones247]

A directional bias using bull call spreads or bear put spreads or calendars.... all having a positive r/r ratio and used with fundamentals... K.I.S.S.


Walt