Thanks are in order to bonnie1234 and Divonorum and others who have contributed books to this, ahem, library. Your generosity in time and resources is astounding. Thank you so much.
I thought it would be fun to share which books folks are currently reading or have read and say a few words about how/why the book has resonated for you.
Personally, I am completely engrossed in The Complete Guide to Option Selling, 2nd Edition, by James Cordier and Michael Gross. It's about SELLING options on futures. Selling Puts and selling Calls. Meaning you are the writer of the options and collect the premium immediately. The goal is to hang on to the premium you have been paid.
I had a lot of dread before I picked up this book because I was worried that options would be too complex a subject for me to understand. However, I was specifically looking for a book on selling options on futures as I'm beginning to come to terms that as good as I feel my charting is, and as well as my ability to read the direction of the market is, my trade entries genuinely and consistently suck.
I'm about half way through this book and it is singing to me. First, it is extremely easy to understand and the method is very simple. The authors distill all the myths about option selling being more risky than buying options. In fact, they demonstrate that 90% of all options expire worthless and the only ones to benefit are the option sellers. But most retail investors shun selling because they are looking for excitement and that one trade in which their ship will come in, but typically this happens only 10% of the time.
In summary the strategy is to sell out of the money puts or calls with time value only (no intrinsic value) and watch the time decay occur.
What E-Book that you snagged off WWI is serving you well and why?
Would love to hear.