Option Premiums Books

  • Thread starter Thread starter BuySellSideTrader2020
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BuySellSideTrader2020

I'm thinking I can be off pretty good if I can learn to sell premium. So I'm thinking about getting started reading some of these books for beginners when I save up some more money.

This is for a friend.
 
What makes option selling so amazing is so few truly understand how to do it successfully. Through years of trials and study I now know how to do it safely, even through black swan events. There is NO book that can prepare you to successfully sell premium. Keep it very small until you master it. Keep a journal of every trade and study your results. I started by watching Karen the Supertrader videos. She had a successful strategy. The one thing that she lacked was the ability to deal with extreme tail risk. We’re it not for tail risk, EVERYONE would be selling premium! I for one am glad the risk is there. It keeps the vast amount of knuckleheads on this forum from even trying. You need guts and street smarts to make it in this game! How does Daddy do it?
 
Sweet Bobby said:
I now know how to do it safely, even through black swan events.
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Tick tock ... Tick tock. I know how to do it safely too (and I know nothing about options) ... Allocate such a small portion of your portfolio that it doesn't matter. What's your definition of black swan event ... 20-30% correction? It's funny to hear people assume that numerous operations managing serious money and blew up were all morons or gung slingers.
 
qlai said:
Tick tock ... Tick tock. I know how to do it safely too (and I know nothing about options) ... Allocate such a small portion of your portfolio that it doesn't matter. What's your definition of black swan event ... 20-30% correction? It's funny to hear people assume that numerous operations managing serious money and blew up were all morons or gung slingers.
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If you know nothing about options, then you are clueless about selling options premium. That puts you in good company with 99.9% of the yahoos on this forum.
 
Behold the Black Swan event!
 

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You found a way to protect yourself from the unknown? Awesome! How much money are you willing to put under risk to test your theory?

The black swan theory or theory of black swan events is a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight.
 
Good entry level book is Randy Frederick's on spread trading. I suspect any good library. It focuses on spread trading. It has a brilliant forward :).
 
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