Query about options terminology

sails said:

I would also suggest this book by Guy Bower "Options: A Complete Guide for Investors & Traders" - available through the ASF bookshop: http://www.moneybags.com.au/default.asp?d=0&t=1&id=4601&c=0&a=74

Guy Bower is an Australian author and so it is geared more to the Aussie market. I feel it's a bit easier to read than McMillan for a beginner.

The ASX website also has a fair bit of information and some free education - here are some links to check it out:

an audio presentation: http://www.asx.com.au/programs/vignettes/lesson4.html

general optons info: http://www.asx.com.au/products/options/getting_started/what_are_etos.htm

option strategy library: http://www.asx.com.au/products/options/how/library/index.htm

40 page PDF on "Understanding Options": http://www.asx.com.au/markets/pdf/UnderstandingOptions.pdf

General Trading Information: http://www.asx.com.au/products/options/trading_information/index.htm

FREE ONLINE COURSE: http://www.asx.com.au/resources/education/classes/online.htm#options

That will give you a bit more to read and hopefully help you understand Aussie options (there are some differences to US options).

While I have done an options course - it didn't teach me much more than the basic strategies that are all contained in the links from Wayne and the ones above. The course was a waste of money in my opinion.

I learned the best lessons in options trading from scouring free stuff on the web and then an exceptional amount of time back testing, forward testing and live testing with both paper trades and small positions.

Happy reading!

Good luck!

Click to expand...

Domasanec said:

I did have a look the 888 = VERY HELPFUL. Thank you

Click to expand...

mazzatelli1000 said:

It sounds like you have been bamboozled by some BS artists, hence your casino analogy

I strongly recommend the book WayneL has recommended. If anything there are a couple of books to read after that.

Do not worry about execution yet, because from your posts it sounds like you havent got any theory down pat.

I am not putting you down, but can recall when I was first introduced to options I sounded alot like you...............
Saw money signs with covered calls...quite foolish in hindsight

Click to expand...