Synopses & Reviews
Praise for Get Rich with Options
"No more excuses! Get Rich with Options provides a clear, honest, and detailed picture of the potential to trade stock and commodity options successfully. Lee covers all the bases, starting with the basics then spending time on concepts such as ITM, OTM, ATM, volatility, spreads, and delta. He turns the mystery of options trading into something cohesive and does it in an entirely user-friendly way. Get Rich with Options is the perfect segue into the world of options trading for anyone who has been intrigued by this investment strategy but too intimidated to try it. For the more seasoned trader, Lee offers little-known tips and advice that have kept him ahead of the pack for years. This is a rare how-to guide that answers all the questions, gives step-by-step instructions, and should be on every options trader's bookshelf."
—Margaret Beeler, Managing Director, International Strategy & Investment, Inc.
"There are many options books in the market today. For the most part, they impart sterile options strategies that will 'theoretically' work for you. But, they are written from the perspective of an academic. In Lee Lowell's Get Rich with Options, you will learn options and commodities basics. That's not where the value is. The value of this outstanding, understandable book comes from the author's perspective of how to trade options and commodities. Lee Lowell brings you the secrets from the trading pits in New York, the secrets of a market-maker, a trader who MUST make money to survive, a trader who has made thousands of successful trades. After reading the book, you will come away with a professional education, and the stark realization that trading options is easier than you think, more profitable than you could imagine, and that there are only three or four surefire strategies that will make you a lot of money consistently. Clear your shelf for this one, it is an invaluable guide for the fastest growing segment of the investment arena today."
—Karim Rahemtulla, Chairman, Mt. Vernon Research
"Option strategies are often delivered in a sea of hype. It's refreshing to learn from someone like Lee who takes a conservative, no-BS approach to options and still makes investors money. I'm impressed by his frankness, his sincerity, and the way he manages risk."
—Julia Guth, Publisher, The Oxford Club/Investment U
"Lee Lowell leads us down the road of complex derivative products and takes us out the other side much more profitably. This book will show you that trading on options is not out of reach. Lee takes complex ideas and breaks them down step by step to help every trader from novice to expert master the art of options trading. I found new ideas and skills at every turn in this book and think it's a must-read for the serious commodity options trader."
—Kevin Kerr, Editor, Resource Trader Alert, columnist, Dow Jones MarketWatch
In order to survive and thrive in today's financial markets, you must seriously consider the use of options in your investment endeavors. Options allow you to reap the same benefits as an outright stock or commodity trade, but with less risk and less money on the line. The truth is, you can achieve everything with options that you would with stocks or commodities—at less cost—while gaining a much higher percentage return on your invested dollars.
After numerous years as a market maker in the trenches of the New York Mercantile Exchange, few analysts know how to make money trading options like author Lee Lowell. In this well-rounded resource, Lowell shows both stock and commodity option traders exactly what works and what doesn't.
Filled with in-depth insight and expert advice, Get Rich with Options provides you with the knowledge and strategies needed to achieve optimal results within the options market. It quickly covers the basics—how options are priced, strike price selection, the use of Delta, and using volatility to one's advantage—before moving on to the four options trading strategies that have helped Lowell profit in this arena time and again.
Forget straight puts and calls, the fact is that nearly 80 percent of those seemingly simple trades expire as worthless. Here, for the first time, Lowell explains the only four options trading strategies that actually work: buying deep-in-the-money call options, selling naked puts, selling option credit spreads, and selling covered calls. Using them decisively, he says, is the fastest route to riches in the options trading game.
In addition to outlining his winning options trading strategies, Lowell also shows you how to set up your own home business with the best options trading software, tools, and Web sites.
Get Rich with Options is packed with real-life examples of actual trades and detailed discussions of how options can be used as a hedging, speculating, or income-producing tool. With this book as your guide, you'll begin to see options in a whole new light and learn how to become part of a small group of investors who consistently win.
About the Author
Lee Lowell is an options trading expert for Mt. Vernon Research, a subsidiary of Agora Publishing, and is recognized as one of America's leading options professionals. Lowell has spent fifteen years in the options trenches, first as a market maker on the floor of the New York Mercantile Exchange (NYMEX) and, more recently, as head of his own trading business. Lowell is also the editor of The Delta Force Trader for Mt. Vernon Research and coeditor of Agora's Accelerated Profits Report and The Smart Options e-Report. He's had numerous articles published in leading financial magazines, including Futures and Technical Analysis of Stocks and Commodities.
Table of Contents
PART ONE: THE OPTION BASICS.
Chapter 1. It's All about the Calls and Puts.
Chapter 2. How Options Are Priced.
Chapter 3. Option Volatility.
Chapter 4. Stocks versus Options.
Chapter 5. Why Option Selling Is Y our Key to Success.
PART TWO: THE STRATEGIES.
Chapter 6. Buy All the Stock You Want for Half the Price.
Chapter 7. Getting Paid to Buy Your Favorite Stock.
Chapter 8. Option Credit Spreads: The All-Star Strategy.
Chapter 9. A Day in the Life of the Maker.
Chapter 10. Put Your Stocks to Work-Sell Covered Calls.
Chapter 11. A Bonus Strategy: Ratio Option Spreads.
PART THREE: GETTING READY TO TRADE.
Chapter 12. Tools of the Trade.
Chapter 13. Brokers and Commissions.