PDF Ebook The Option Trader's Hedge Fund: A Business Framework for Trading Equity and Index Options

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The Option Trader's Hedge Fund: A Business Framework for Trading Equity and Index Options

PDF Ebook The Option Trader's Hedge Fund: A Business Framework for Trading Equity and Index Options

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From the Back Cover

“The Option Trader’s Hedge Fund provides traders with a resource that is not only actionable but interesting at the same time. They transform their extensive knowledge of option trading into an approachable means of educating investors of all types. It’s as if the reader gains new trading confidants in Mark and Dennis.” --Tony Battista, Managing Director, tastytrade Financial Network   “In The Option Trader’s Hedge Fund, Mark Sebastian and Dennis Chen introduce traders to option trading methods that have been utilized by hedge funds for years. This book will help all levels of option traders take their game to the next level.” --Russell Rhoads, CFA, Instructor, CBOE Options Institute   “Thousands of books have been written about stock and option trading. Unfortunately most of these books are completely focused on individual trade structures, and the ones that focus on risk management are completely weighted to the equity side. Until now, nobody has adequately addressed the issue of risk management for investors holding a portfolio of options. Without a solid approach to risk management, no serious trading effort can ever scale. Hedge funds know that because they invest hundreds of millions, sometimes billions of dollars. This new book by Dennis Chen and Mark Sebastian bridges that gap. It is destined to find a place on thousands of desks of private option traders who seek to scale their strategies and effectively manage risk because every serious investor knows that not losing money is the best way to generate a profit.” --Jeff Augen, author of The Volatility Edge in Options Trading and Trading Options at Expiration   “From trade selection to execution, risk mitigation, and volatility analysis, everything you need to know is contained within these pages. Whether you are a newcomer to the options market or a seasoned options veteran, the insight and analysis contained in this book will provide you with the proper framework for your options trading.” --Mark S. Longo, Founder of www.TheOptionsInsider.com and The Options Insider Radio Network   Want to earn steady, reliable income from options? Then you need to run your options portfolio as a business. This book will show you how. Hedge fund manager Dennis Chen and top options coach Mark Sebastian introduce a complete, practical “insurance business” framework for trading options: a framework built on techniques proven in the world’s largest financial institutions.   Chen and Sebastian identify the option concepts most critical to long-term success and present core income strategies based on selling rather than purchasing options. Next, using real-world examples, they walk you through setting up your option business, offering a complete “operations manual” for addressing every day-to-day issue you’ll face. Drawing on their extensive experience, they teach crucial lessons about maintaining discipline, managing volatility and risk, handling infrastructure and payments, and much more.   To earn reliable income from options, you must be systematic, disciplined, and professional. As every expert trader knows, it’s a journey. This book will guide you every step of your way.   Trade options like “The One Man Insurance Company” Why the TOMIC model is uniquely well suited for individual option traders Master the five essential components of high-profit option trades Choose better trades based on market selection, direction, timing, volatility, and pricing Manage all your risks--including black swan risks Use all the risk management tools at your disposal, from position sizing to diversification and the use of “units” Build and execute highly effective, efficient trading plans Run your option trading business with strong discipline and cost control

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About the Author

DENNIS A. CHEN (Miami), Managing Director and Chief Investment Officer of Smart Income Partners, Ltd., a hedge fund specializing in option income strategies. He has been investing and trading equities and options for many years and previously served as a management consultant focused on financial services at Bain & Company. He has experience in the banking, insurance, real estate, computer technology, Internet, publishing, advertising, construction, commodities, quick service restaurant, and automotive industries. Chen holds an MBA from The Wharton School of Business, an M.S. in Computer Science from Arizona State University, and a B.A. inComputer Science from the University of Texas.MARK SEBASTIAN (Chicago), COO and Director of Education at Option Pit Mentoring and Consulting, is a former member of both the Chicago Board Options Exchange and the American Stock Exchange. Sebastian makes frequent appearances on CNBC, Bloomberg TV, and Fox Business channel as an expert on options, market volatility, and the S&P 500. He has been published nationally on Yahoo! Finance and quoted by The Wall Street Journal, Reuters, and Bloomberg. An All-Star Contributor for TheStreet.com's Option Profits Team, he is also Managing Editor for Expiring Monthly: The Options Traders Journal.

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Product details

Hardcover: 240 pages

Publisher: FT Press; 1 edition (May 28, 2012)

Language: English

ISBN-10: 0132823403

ISBN-13: 978-0132823401

Product Dimensions:

6.4 x 0.8 x 9.3 inches

Shipping Weight: 1.2 pounds

Average Customer Review:

3.8 out of 5 stars

51 customer reviews

Amazon Best Sellers Rank:

#387,927 in Books (See Top 100 in Books)

The book is about describing trading in general as a business - but this is assumed for everyone, who is not in trading for fun. There is no any specific framework and the knowledge given about options is very limited. All ideas in the book are described already in Alex Elder books. Looks like the book is written to advertise the hedge fund the author runs. Do not waste your time and money on this book.

If you could find a book written by Dennis Chen alone you would be ahead of the game. There is definitely different writing styles between Chen and Sebastian. Chen provides information you can use right away. Sebastian's clear purpose is to give you just enough information to leave you hanging so you go to his website to pay for poorly done online courses. After reading the book I was surprised it was endorsed by Tony Battista whom I have great respect. I blame myself for buying this book because I wanted a quick answer to certain technical aspects of option trading instead of putting in the hard work and research. I would recommend the book Trading Option Greeks by Dan Passarelli. It's a challenging read but I have actually learned more in the first 50 pages than than in the entire "The Option Trader's Hedge Fund"

This is a book that every options trader should read. I have read it twice and use it regularly as a reference - it is that valuable to me.I have read most of the top books on options that are available, but this one stands out in it's practicality and it's ability to lay out a solid framework for options trading as a business. Where most books either stay too theoretical, rely too much on analogies, make unrealistic promises, or focus too much on a single strategy I find The Option Trader's Hedge Fund gave me not only the theory but also practical information that has improved my trading.Of particular value is the explanation of the various positions that may be traded along with under what conditions it each position will perform best. Beyond that there is a discusion on managing each type of position, such that a clear plan is laid out for most situations you might encounter. What I find particularly unique and valuable are the details on how to adjust each position for various circumstances along with the setup of what volatility environment and skew curves work best for each position. This level of detail is not something I have found in any other books on the subject - at least not presented in such a practical way.This book has improved my trading and saved me many times the price just in helping me learn how to better manage positions I was already trading. It's been even more valuable by helping me identify under what conditions I should be trading various positions. I view it as essential reading for anyone trading options. Of all the options books I have read, this one is the most useful and valuable to me. This is the one I pull out when planning trades. This is the one I pull out when I need to manage or adjust a position. I'm just a regular guy with a famly and a job who's doing his best - maybe if you are a pro it's not as valuable to you, but for me it's the most valuable options book I have.I am also grateful for The Options Insider radio and The Option Block podcast and Mark Sebastian's contributions to those free resources. That's how I found out about this gem!Sean Conrad

Good book and has some interesting "rule of thumb" type information for specific Option Strategies, but falls a bit show in showing more details. The author talks of identifying a "Steep Skew" and offers some basic concepts at a macro level on how to "tell at a glance" the degree of steepness, but he stops short in offering more details....would be interesting to elaborate more on tools used or software products commercially available to help evaluate market volatility, both from a vertical and a horizontal perspective.

Just for the purpose of context, I am not a novice option trader nor an expert but I read this book thoroughly from beginning to end. Over all the content did repeat from other options books I have read but included a lot of good facts about the markets that I did not understand before. Strategy coverage provided detail about when to specifically use different strategies and a half way descent roadmap to get from beginner to full-time option trader with realistic $ figure to get you moving is the right direction. Skew detail was vague and almost two chapters of blog entries otherwise I would have given it five stars.

An excellent read. Presents some great philosophy regarding how to run a personal options trading business. Fine illustrative examples of how to use the authors' preferred strategies, and an illuminating section on educational resources -- what to read next.

I am not a professional options trader but learning. The concept of comparing options trading to an insurance company makes a lot of sense when you think about it. My main complaint is that the book often rushes through a topic without adequately explaining it. I kept getting the feeling that this book was just thrown together. Most of Part III is actually postings from Sebastian's blog. The book covers some topics such as unit options that are new and potentially very useful to me. Aso some of the blog postings are very useful. However, the book was originally listed as being over 300 pages long; it would have been better to me if the authors had kept writing with more examples.

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The Option Trader's Hedge Fund: A Business Framework for Trading Equity and Index Options PDF

The Option Trader's Hedge Fund: A Business Framework for Trading Equity and Index Options PDF

The Option Trader's Hedge Fund: A Business Framework for Trading Equity and Index Options PDF

The Option Trader's Hedge Fund: A Business Framework for Trading Equity and Index Options PDF