"I've had the pleasure of teaching with Ron Ianieri at numerous live seminars for traders and investors, and one thing is for sure-Ron knows options! Now Ron has created a thorough, easy-to-read guide that you can benefit from in many ways, whether you are experienced in options trading or just starting out. I believe you will find Options Theory and Trading like Ron himself . . . full of knowledge, entertaining, fast-paced, and a joy to be around."
—Price Headley, CFA, CMT, founder of BigTrends.com
"I've had the pleasure of knowing and working with Ron for many years now. When managing funds in our asset management company, Ron has always been our 'go-to guy' on anything options-related. I've also taught a number of seminars side by side with Ron over the years where I've always come home knowing more about options than when I left! The man is truly the 'pitbull' of derivatives."
—Peter Reznicek, Chief Equity Strategist, www.ShadowTrader.net
"What a pleasure to read Ron Ianieri's new book, Options Theory and Trading. As a market technician for the last thirty-three years I am always looking for technical moves in stocks, and I rely on Ron's expertise for the optimum options strategy needed for each specific move I perceive happening in the markets. Ron's 'in the pits' experience serves to correct the misinformation in much of the published material and classes currently available to the unsuspecting options trader."
—David Steelsmith Elliott, Wallstreetteachers.com, World's #1 Market Timer, USIC
"Ron's expertise in options is as high as there is and his experience is unparalleled. Ron not only knows the answer but can explain it in a '101' fashion that is simple enough for even a novice to understand. His book is written in the same fashion. Ron not only explains the 'how to's' but also the 'how and why' which other books just don't seem to do. As a day trader/swing trader by nature, I also appreciate Ron incorporating real chart examples for us directional traders. For these reasons, I would highly recommend Ron's book to anyone interested in using options."
—Chris Rowe, The Trend Rider, www.tycoonresearch.com
Price: $47.25
User Reviews about Option Theory and Trading: A Step-by-Step Guide To Control Risk and Generate Profits (Wiley Trading)
Ron Ianieri is a tease. He bares the option pricing models one variable at a time accompanied by simple, seductive explanations. Your heart begins pounding with anticipation - what will come next! Chapter 3 (Option Theory) is a masterpiece (or is it a mastertease?) in explaining option pricing model without resorting to the mathematical equations. Being a reader who relishes the mathematical treatment as in Jeff Augen's `The Volatility Edge in Options Trading' (an elegant, effective, analytical presentation of Option trading strategies without eschewing mathematical rigor), I can't believe that I thoroughly enjoyed Ianieri's treatment without equations. It is not surprising that Ianieri is a master teacher, since he is the father of his `Option Theory and Trading Course'. The Option Theory discussion starts with an easily understood pictorial explanation of the normal distribution (Bell Curve), introduces the binomial model and finally the VSK (volatility, skew and kurtosis) model to account for the log normal distribution of returns.
The Greeks (delta, gamma, theta, and vega, which express the sensitivity of the options price with respect to the price of the underlying, time to expiration, and volatility) are covered extensively in chapter 4. Ianieri's treatment of the Greeks is excellent, especially the discussion of the `Volatility Smile' and `Volatility Tilt'. Ianieri even covers the second tier Greeks (V-Delta, T-Delta, V-Gamma, T-Gamma, V-Theta) although he has chosen, justifiably, to ignore the interest rate related first-tier Greek Rho.
Ianieri's penchant for avoiding mathematical equations makes for longer discussions; sometimes a simple equation is worth a hundred words! For example, the listing of the several synthetic positions could have been easily presented in fewer words by including a simple equation for put-call parity. The figures 5.1 -5.6 showing the synthetic position equivalence using P&L diagrams would be more useful if they had some scales and labels (similar to those in Chapter 6); this would have prevented the inclusion of the erroneous Figure 5.6 (synthetic short-put).
In Part II (chapters 6-11) Ianieri introduces basic option trading strategies (Covered Call, Covered Put, Protective Put, Synthetic Put and the Collar). Each strategy is clearly explained, with examples of real ticker symbols. Each strategy discussion ends with a synopsis, worth its weight in gold. I recommend that even if you skim through the chapters pay close attention to the synopsis, which elucidates the salient points of each strategy under discussion.
The author states, `as good as the options are in conjunction with stocks, they can be even better when traded against each other' - and then goes on to prove his point with a discussion of the advanced strategies `Spreads, Straddles and Strangles'. Again each strategy is clearly explained, with examples and concluding with a solid gold synopsis. The final chapters include discussion of the combination strategies (Butterfly and Condor).
Ultimately, a trader wins if he is right (whether he bets on higher/lower prices or higher/lower volatility) and loses if he is wrong. The only thing he can do is improve the odds of being right and hold the losses to manageable levels when he is wrong. Ianieri shows the beginning/intermediate reader how it can be done.
This book definitely belongs on your learning/reference shelf if you are serious about understanding about option trading and profiting from it.
The Volatility Edge in Options Trading: New Technical Strategies for Investing in Unstable Markets -- Options Theory Exposed!
I purchased this book after buying Options GPS, a 20 CD course from [...]featuring Ron Ianeri covering the same material. I learn better from books than lectures. I could have saved $2,400 by just buying the book.
Master this material and you will know more than some personnel in etrade service departments!
Learn how to make money in bull, bear or stagnant markets while limiting your risk. Ron Ianeri is clearly one of the best options teachers anywhere. If you can afford only one book on options, get this one.
Tightly structured as befits a textbook. Clearly and logically organized. Can be read and understood by a motivated high school student. -- Best Options Textbook
I'm only on chapter 4. I have found these first 4 chapters somewhat hard to muddle through because I'm not a completely verbal learner. There are several places where a nicely constructed illustration would really make this good book much better. Content seems solid and well-researched. If you are a visual learner, you will struggle with this content. -- For the verbally inclined learners...
According to his own bio, Ron Ianieri is a big name, big time, much sought after speaker on 0ptions. So I was looking forward to this book, his first, on options trading. Unfortunately this is simply a basic book on options strategies and adds nothing new to such classics as Lawrence Mcmillan's Options As A Strategic Investment. Lenny Jordan and Nick Katortis have also written fine tomes on options for the beginner. However, thois book is simply a discussion of basic strategies, sprinkeled with a bit of option theory. I cannot recommend purchase except for absolute beginners to options. -- Disappointing
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