I’ve published four books, three for the options beginner, and each contains more material that the earlier books. Thus, I strongly recommend The Rookie’s Guide to Options, 2nd edition (2013). In my (biased) opinion, the first edition was destined to become a classic primer. Read those reviews at amazon.com. They are genuine.
Although written for the beginner, there is enough advanced material to make this book useful for years to come.
When writing The Rookie’s Guide, I provided extra detail, just as I do in my blog posts. Why? To anticipate questions and perhaps answer them – before you ask.
I explain why calls and puts are interchangeable when you buy or sell stock with the options, and that some positions are equivalent to others. This type of information is not available in most books targeted to rookies.
One chapter contains a thorough discussion, with proof, of why these different-looking positions are truly equivalent and deliver essentially equal profits or losses. [The returns are only 'essentially equivalent' and not identical because bid/ask spreads and minor inefficiencies make it next to impossible to trade the different positions at the exact price that makes the trades equivalent.]
Understanding this single chapter places you years ahead of most novice option traders.
There’s much more to say, but the reviews and testimonials speak for themselves.
The paperback version sells for $27 retail, and amazon is offering a discount.
I offer a FREE sampler version that contains a very short excerpt from each chapter of the first edition. This book has been downloaded more than 12,000 times and offers a good idea of the contents of the full book.
The .pdf (e-book) version OF THE FIRST EDITION is available for $10. Click here.
I published my first book in 2002 and it is available as a Kindle eBook ($3.99)
The Short Book on Options explains the basic concepts of how options work along with a good description of how to write covered calls. If you are looking for an inexpensive way to get started, this book is still useful. If you plan to achieve more than just ‘getting started,’ then the Rookie’s Guide is for you.
Between these two books came Create Your Own Hedge Fund (2005). By examining the strategies of covered call writing and selling cash-secured puts when using a mix of ETFs (Exchange Traded Funds), I show the individual investor how he/she can own a hedged and diversified portfolio. And that’s exactly how some of the less sophisticated hedge funds operate. You truly can create and mange your own mini-hedge fund.
More recently (2010), I completed an e-book, available in Kindle format ($12). Titled: Lessons of a Lifetime, it’s my 20,000 word attempt to offer some of the most valuable lessons learned over the course of my 33 years as an options trader. It’s available as a Kindle version ($10)
Two e-books are available free. One is a sampler version of The Rookie’s Guide to Options and the other is An Introduction to Options: The Basics. To receive either (or both) follow the link. It takes you to a shopping cart, but don’t let that be a concern. The cost is zero.
I’ve begun publishing a new series of eBooks, each devoted to a single option strategy. The first is about naked put writing.