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ET180

I started reading some of destriero's journals and often times don't understand what he is saying. For example, from one of his posts:

What's the only risk that isn't unimodal? Delta flips at the forward (ostensibly the strike). So you stress the gain (idealized) at the strike. I've never seen vol rally enough to pose a loss at the neutral strike.

I prefer up/out skews as these are always long stock/short calls as it negates loss to stickiness. If this were done on index you'd hope to win more on strip vols (mkt vols "VIX") than you would lose on contamination/stickiness. In index it's often not the case. 30 -> 25 -> 20 vols (25D put -> ATM -> 25D call). What happens to the 20 vol-strike as market trades to the strike? Assume that it will gravitate to the prevailing ATM vol-figure.
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From his journals, he clearly knows how to trade. Can anyone recommend a book that covers the more advanced derivative concepts that he talks about?
 
Any books that discuss options in depth would do. And in fact there are a lot of websites that actually talk about many of the concepts in options trading and illustrate them with examples. It's best to study them and build a solid understanding of options trading and then actually practice trading options. I find actually trading options irl allows you to learn a lot of things that you can't pick up from books and will broaden your understanding of options. There is only so much you can learn from books.
 
TheDawn said:
Any books that discuss options in depth would do. And in fact there are a lot of websites that actually talk about many of the concepts in options trading and illustrate them with examples. It's best to study them and build a solid understanding of options trading and then actually practice trading options. I find actually trading options irl allows you to learn a lot of things that you can't pick up from books and will broaden your understanding of options. There is only so much you can learn from books.
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I doubt the OP is pleased with your generic answer.
he was looking for a specific answer.
 
ET180 said:
I started reading some of destriero's journals ...

... Can anyone recommend a book that covers the more advanced derivative concepts that he talks about?
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IIRC he refers to specific books within his many journals that may help. I vaguely recall that John Hull was one author. Go back and check again.
 
maxinger said:
I doubt the OP is pleased with your generic answer.

There is no such book.

Books should have the name of the writer, and publisher.

You guys know how to irritate OP.
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I Googled the book name and the 5th result returned a PDF of the 8th edition. From the table of contents, looks like I'm familiar with most of the topics, but I'll scan it. I'll also scan destriero's journals and see if he mentions any other books. I suspect it would be a 200 or 300 level college finance textbook similar to the one above. If he mentions a book, I'll post it here.
 
ET180 said:
I started reading some of destriero's journals and often times don't understand what he is saying. For example, from one of his posts:



From his journals, he clearly knows how to trade. Can anyone recommend a book that covers the more advanced derivative concepts that he talks about?
More...

Destriero has a group of ET followers. You might as well join his group.
 
smallfil said:
Destriero has a group of ET followers. You might as well join his group.
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This place has groups? Like a subforum within a forum? How do I join?

I searched through destriero's posts and found 2 references. The first was to

Emanual Derman regarding sticky delta. Google returned this:

http://emanuelderman.com/wp-content/uploads/2013/09/smile-lecture9.pdf

Then he made a list of book recommendations here for people who are completely new to trading.

16 year old new to trading

Then he gave a weak recommendation for the Hull book. So I guess I'll start with the Hull book and then go through Derman's lecture slides. I'll read Tony Saliba's book if I can find it. Currently sold out on Amazon.
 
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