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Fundamentals of Options Market
ISBN: 0071363181     Date Published: 2000-12-19     Author(s): Michael Williams, Amy Hoffman
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340 Pages
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06/20/2013 01:24:23
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Editorial Review - Book Description:
Book Description: Options are an investment vehicle that can enhance virtually any investment philosophy. Fundamentals of the Options Market provides a clear, concise picture of this global marketplace. Using examples drawn from contemporary financial news, this completely accessible guidebook describes why and how these versatile tools can be used to hedge risk and enhance return, while explaining popular products including listed stock options, index options, and LEAPS.
Customer Review:
Total Reviews: (14)
  (9)      (4)      (0)      (1)      (0)
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14 of 14 People found the following review helpful.

An options workbook that is useful!, January 4, 2001 ByJon Cohen (Naples, Florida) - See all my reviews This review is from: Fundamentals of Options Market (Paperback) I have been trading stocks and options for 3 years and found the volatility, strategy and synthetics section excellent. I have had a hard time understanding synthetics and the idea of creating other positions and understanding the risk and rewards was very useful. I already knew all the strategies but the book went into explaining how to trade them and hedge them. The contract vs. delta neutral was very informative and practical. The simple use of calculating volatility down to the day was very useful and helps me determine option's premiums against fair value. I like the workbook feel instead of textbook feel.Pros - Simple explanation of volatility, intro to synthetics, strategy section with how to trade the positions, great basic strategy formula section, interesting market making section, seemed more like a workbook, and a the quiz at the end of each section. Cons - More on Synthetics, some sections a little complicated for the beginner (This book is more intermediate then...
13 of 14 People found the following review helpful.

Good but many, many errors. Were the editors asleep?, April 4, 2002 Bycrp (Austin TX) - See all my reviews This review is from: Fundamentals of Options Market (Paperback) The authors appear to know their subject well. I would recommend this as a beginner-to-intermediate introduction to fundamentals except for the numerous errors.Some errors are like "typos" such as 6 instead of 60, some are more serious and subtle such as specifying a call when a put was meant, and some are fundamental structural problems with the book. For example, the Quiz answers don't match the chapters to which they purportedly provide answers, and in some cases only some questions are answered anyway.The errors are so numerous, and some of a type that they won't be caught by the average beginner, that it might be dangerous for a beginner to rely on this book as a reference or as an only introduction to options.I'd really like to have a completely "cleaned up" copy, as I think that could make this the best introduction that I'm aware of.
25 of 31 People found the following review helpful.

Too many errors to be used as a definitive resource, October 4, 2001 ByKEVIN L. (CHICAGO, ILLINOIS United States) - See all my reviews This review is from: Fundamentals of Options Market (Paperback) As an instructor in equity options for a major market making firm, I've been looking for an introductory text to supplement the lecture material presented in our training classes. While MacMillan and Natenberg have written great books on the topic, the former is not specific enough to our market making business and the latter is too advanced for the beginner. In looking for something in between these two fine works, someone suggested to me the Williams/Hoffman book. It has been unsatisfactory in several respects. Explanations of some concepts appear out of context with the material being covered, some others are very muddled, and some are just plain wrong. The book also suffers from a trait common to many traders-turned-authors in that while the authors may be very knowledgable about their subject they aren't very good at conveying - at least in book form - that knowledge to others. While students with previous exposure to options concepts may be able to overcome these...
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