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| Acknowledgments | |
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| About the Author | |
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| Preface | |
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| Basic Concepts | |
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| Introduction | |
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| Why Options? | |
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| The Basic Concept of Options | |
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| Major Differences Between Stocks and Options | |
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| A Detailed Explanation of Options | |
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| Comments | |
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| Option Selection | |
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| What Is a Cheap Option? | |
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| Selecting a Call | |
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| Overall Evaluation | |
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| Selecting a Put | |
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| Entering and Exiting Option Trades | |
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| Entering a Trade | |
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| Exiting a Trade | |
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| The Greeks | |
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| Delta | |
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| Theta | |
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| Gamma | |
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| Vega | |
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| Rho | |
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| Risk Graphs | |
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| Single Option Trade | |
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| Multiple Option Trade | |
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| Comments | |
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| LEAPS and Weekly Options | |
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| LEAPS | |
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| Weekly Options | |
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| Assignment Anxiety | |
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| Comments | |
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| Applications | |
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| Broker Selection | |
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| Types of Brokers | |
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| Commissions | |
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| Trading Platform | |
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| Margin and Trading Limitations | |
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| Level 3 Trading | |
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| Live Broker Assistance | |
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| Comments | |
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| Miscellaneous Tips | |
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| Time Is Money | |
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| Trading with the Trend | |
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| Risk Capital for Options Trading | |
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| Tracking Trades | |
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| Anticipating Events | |
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| Real-Time Quotes | |
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| Market Orders with Options | |
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| Options Calculator | |
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| Trading Strategies | |
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| Vertical Spreads | |
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| Debit Vertical Spreads | |
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| Credit Vertical Spreads | |
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| Comments | |
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| Vertical Spreads with Weekly Options | |
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| Event-Producing Credit Spreads | |
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| Comments | |
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| Calendar Spreads | |
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| The Rollout Maneuver | |
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| Comments | |
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| Calendar Spreads with Weekly Options | |
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| Advanced Calendar Spreads | |
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| Volatility Skew Trades | |
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| Ratio Calendar Spread Trades | |
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| Deep-in-the-Money LEAPS Put Calendar Spreads | |
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| Diagonal Calendar Spread Trades | |
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| Covered Calls | |
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| An Idealized Trade | |
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| A Realistic Trade | |
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| Covered Call Versus Naked Put | |
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| Comments | |
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| Covered Calls with Weekly Options | |
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| Straddles and Strangles | |
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| The Straddle Trade | |
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| The Strangle Trade | |
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| Straddles and Strangles with Weekly Options | |
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| Stock Repair and Stock Enhancement | |
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| Stock Repair Strategy | |
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| Stock Enhancement Strategy | |
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| Married Puts | |
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| Comments | |
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| Married Puts with Weekly Options | |
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| Collars | |
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| Comments | |
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| Advanced Collars | |
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| Comments | |
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| Naked Option Writing | |
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| The Risk of Naked Option Writing | |
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| Acquiring Stock with Naked Puts | |
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| Comment | |
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| Stock Substitutes | |
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| Matching the Stock Delta | |
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| Synthetic Long Stock | |
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| Deep-in-the-Money Put | |
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| Deep-in-the-Money Call | |
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| Backspreads | |
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| Comments | |
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| Backspreads with Weekly Options | |
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| Butterfly Spreads | |
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| Standard Butterfly Trade | |
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| Butterfly Trade with Adjustments | |
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| Unbalanced Strikes Butterfly Trade | |
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| Unbalanced Contracts Butterfly Trade | |
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| Iron Condors and Double Diagonals | |
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| The Iron Condor Trade | |
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| The Double Diagonal Trade | |
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| Comments | |
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| Iron Condors and Double Diagonals with Weekly Options | |
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| An End-of-Year Tax Strategy | |
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| Tax Code Restrictions | |
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| Qualified Covered Calls | |
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| Basic Strategy | |
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| Follow-Up Variations | |
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| Comments | |
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| Special Topics | |
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| Day Trading an Index with Options | |
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| Comments | |
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| Delta-Neutral Trading | |
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| Review of the Delta Concept | |
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| A Delta-Neutral Portfolio | |
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| Delta-Neutral Trading for a Profit | |
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| Theory of Maximum Pain | |
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| Implied Volatility and the Black-Scholes Formula | |
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| Historical Background | |
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| Implied Volatility | |
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| Applications of Implied Volatility | |
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| Comments | |
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| The Put-Call Parity Relationship | |
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| Calls Cost More Than Puts | |
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| Applications of Put-Call Parity | |
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| Index | |