Equity and Index Options Explained

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  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2009-05-26
  • Publisher: Wiley
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Supplemental Materials

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In 2007 over 400 million equity option contracts were traded but it is a volatile market, prices are ever changing with supply and demand - the only certainty is that they will change. With little knowledge or experience, an uninformed decision can quickly drain capital. This book explains equity options from absolute basics, assuming no prior knowledge of the subject. It shows traders starting out and already using the exchanges how to enhance their equity portfolio by using the whole range of investment opportunities and tools available. This will help investors to reduce their costs, enhance returns and manage price risk with certainty and precision. Equity Options Explained is a practical guide to trading equity options, supported by Liffe (part of the NYSE Euronext exchange group). Written by Bill Beagles, a well known, highly experienced trader and trainer, creating a unique combination in this area. Bill is still highly active in the markets, which brings a practical perspective to his training and the books.

Author Biography

Bill Beagles, London UK, is a founder member of K2 Ltd. K2 is a training and consultancy company specializing in derivatives trading, education and consultancy.

Liffe is the European derivatives business of NYSE Euronext, the transatlantic exchange group formed in 2007. Liffe operates derivatives markets in Amsterdam, Brussels, Lisbon, London and Paris.

Table of Contents

Forewordp. vii
Preface: Trading Language and Productsp. ix
Option Basicsp. 1
Option Specificationsp. 9
Exercise and Assignmentp. 13
Option Usesp. 19
Option Price and Valuep. 31
"Moneyness"p. 39
Pricing Optionsp. 43
Skewp. 61
Option Pricing Revisited: the "Greeks"p. 71
Basic Option Strategyp. 95
Option Spreadsp. 105
The Collar (Fence)p. 107
Long Call Spreads (Bull Call Spreads)p. 119
Long Put Spreads (Bear Put Spreads)p. 127
Short Call Spreads (Bear Call Spreads)p. 139
Short Put Spreads (Bull Put Spreads)p. 147
Selling Naked Puts versus Selling Put Spreadsp. 151
Long Verticals versus Short Verticalsp. 157
Long Straddlesp. 161
Long Stranglesp. 167
Short Straddlesp. 173
The Iron Butterflyp. 179
Short Stranglesp. 185
The Iron Condorp. 187
Calendar Spreadsp. 193
Long Call Calendarsp. 195
Short Call Calendar Spreadsp. 201
Long Put Calendar Spreadsp. 205
Short Put Calendar Spreadsp. 209
Diagonal Spreadsp. 213
Yield Enhancementp. 219
Gamma Tradingp. 223
Resourcesp. 233
Summaryp. 235
Glossaryp. 237
Indexp. 247
Table of Contents provided by Ingram. All Rights Reserved.

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