Options and Options Trading : A Simplified Course That Takes You from Coin Tosses to Black-Scholes

by Robert W. Ward

An introduction to the complex world of options that every investor can use Too many books on options trading make the mistake of assuming that readers can already tell a delta from a sigma summation. Options and Options Trading breaks the code that envelops the often-foreign language of options, providing an accessible introduction into how the options market works as it explains the rules that traders must understand if they hope to take part in this high-leverage, high-profit game. Author Robert Ward's goal is simple--to demystify the tangled world of options trading without leaving readers too confused and frustrated to continue. The book to read before continuing on to the more detailed, and much higher-level, existing library of options trading guides, Options and Options Trading features:

Genres: Finance

288 pages, Hardcover

First published March 31, 2004

Reviews

[Sjors · Rating 3 out of 5]

Pretty solid book that takes it nice and slow on the math. Good the beginner/intermediate level option investors.

[Rohith Ajjampur · Rating 5 out of 5]

The author has explained the abstract concepts of probability and statistics as it applies to Options pricing in a very lucid manner; well suited for anyone with a basic understanding of math. I highly recommend this book before one sets out to start looking at trading Options.

[Vijay Rawat · Rating 5 out of 5]

Excellent book for Option and Option trading. I congratulate author for writing such a knowledgable book on options. Its very informative and full of potentially profitable content.

[Lime Street Labrador · Rating 1 out of 5]

A braggart writing shallow and verbose garbage

[Ray · Rating 4 out of 5]

Over the course of four undergraduate and graduate degrees I took a total of one math and zero business and finance courses. I watch the money channels on cable, and I pick up a few things, but most of it might as well be in Mongolian to me. I was the perfect candidate for Robert Ward's excellent new book, whihc might be subtotled "Options for Dummies."

His Options and Options Trading is a practical, no-nonsense primer for the complex and mysterious world of options. For the uninitiated like me, it is difficult going at times, but if you discipline yourself and muscle through in the end you have covered every aspect of buying, selling, and profiting from options. His goal is introduction and translation, not advanced trading strategies. In this he succeeds masterfully.

Ward demonstrates a genius for making the inscrutable accessible, leading the reader by the hand with vivid language, illustrations, and humor. His pace is steady and deliberate, but never rushed. He writes with an ease and comfort that comes from a complete mastery of his subject.

Ward instills confidence in his readers by demonstrating mathematically that good luck is not needed to succeed in options trading. And conversely bad luck will never ruin the sensible trader, who realizes he can "never be bigger than the market."

Ward telegraphs the progression of his program well, by breaking the concepts down into many easily digestable chapters, grouped in larger sections. It is also nicely bound and packaged, and well-indexed, by McGraw Hill. About the only criticisms I have are very mild ones:
1. Frankly the foreword by John Fallon comes off as a little smug and self-serving, and adds nothing to the discussion except some interesting biographical tidbids on Ward.
2. I did great on my math SATs, but, again, without adequate course work, beginning in chapter seven I found the math tough going sometimes. This is cearly, however, a function of the subject, not the author. Or maybe its a function of this reader! It is unavoidable. And for this math-ophobe, he surely minimized the pain.

Just a few pages into teh book it's very clear why Ward has been so successful, both as a trader and as a teacher. Add writer to the list now. A truly magnificent work in every way. One of the best book purchases I have ever made, and I plan to buy extra copies for Christmas gifts.

[Philski · Rating 4 out of 5]

Neat because they develop the whole concept of options pricing starting with coin flips and introducing very basic statistics. If you don't have much of a math background and are just starting out, this is the book for you.