The Market Taker's Edge: Insider Strategies from the Options Trading Floor

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9780071754927: The Market Taker's Edge: Insider Strategies from the Options Trading Floor

TRADE OPTIONS LIKE A SEASONED PRO!
A Trading-Floor Veteran Shares his Secrets

"What I like about Dan's book is that it's obvious he isn't just telling you how to trade, he's telling you how he trades. There's always a big difference between those who teach trading from an academic standpoint and those who have traded and have the ability to walk investors step by step through the trade. For my money, I always seek advice and counsel from those that walk the walk and Dan Passarelli has walked the walk."
Jon Najarian, cofounder Trademonster.com

On Dan Passarelli’s first day as a clerk on the exchange floor, he spent the morning observing, practicing his hand signals, and running errands. Around midday, the veteran clerk he worked with said to him, “You’re up. I’m going to lunch.” Dan survived his trial by fire and went on to spend many years on the trading fl oor. He credits his success as a trader and educator to the hands-on experience he gained throughout his career.

With The Market Taker’s Edge, Passarelli shares the knowledge and insights other floor traders keep tight to their chests—the knowledge you need to beat the market on a regular basis.

This market maker turned market taker delivers a focused commentary on key concepts for operating in the options exchange like a pro. He offers a candid look at the ups and downs of his trading career and conveys the lessons he learned along the way in an informative and often entertaining way. After spending time on the floor in his shoes, you’ll understand:

  • How professional traders attempt to make money—and why it’s different from the way you make money
  • Why market makers are not the enemy
  • How both market takers and market makers can profit while taking opposite sides of the same trade
  • How to focus on what is important in a trade and avoid the noise

Dan Passarelli has already taught thousands of people how to make a living as traders, and now with The Market Taker’s Edge, he can help you do it, too.

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About the Author:

Dan Passarelli is the author of the book Trading Option Greeks and founder of Market Taker Mentoring LLC™. Market Taker Mentoring provides options education, including personalized, one-on-one mentoring for option traders. The company website is http://www.markettaker.com.

Dan started his trading career on the floor of the Chicago Board Options Exchange (CBOE) as an equity options market maker. He also traded agricultural options and futures on the floor of the Chicago Board of Trade. In 2005, Dan joined CBOE’s Options Institute and began teaching both basic and advanced trading concepts to retail traders, brokers, institutional traders, financial planners and advisors, money managers, and market makers. In addition to his work with the CBOE, he taught options strategies at the Options Industry Council.

Dan can be reached at dan@markettaker.com. He can be followed on Twitter at twitter.com/Dan_Passarelli.

From the Back Cover:

Even in today’s electronic markets, market makers from the trading floor offer a rare perspective on the mechanics of the options exchange. In The Market Taker’s Edge, trading floor veteran Dan Passarelli opens his personal playbook to making options gains consistently enough to become a successful full-time trader.

The Market Taker’s Edge shows how to turn what you know about the market makers’ strategy to your advantage. In the process, it gives you powerful strategies and tools for:

  • Avoiding the zero-sum game
  • Embracing and profiting from volatility
  • Accurately interpreting options data
  • Arbitrage and niche trading
  • Effectively hedging risk

With expert coverage of the best tactical ways to enter orders, forecast, and manage your portfolio, this hands-on resource is the perfect how-to guide for trade execution.

"About this title" may belong to another edition of this title.

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Book Description McGraw-Hill, 2011. Book Condition: New. Brand New, Unread Copy in Perfect Condition. A+ Customer Service! Summary: A veteran CBOT floor trader provides an insider's view of working and living as an options trader from the pros and cons of career trading to the technical side of ensuring profitability. Bookseller Inventory # ABE_book_new_007175492X

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Book Description McGraw-Hill Education - Europe, United States, 2011. Hardback. Book Condition: New. 231 x 152 mm. Language: English . Brand New Book. A veteran CBOT floor trader offers an expert s vantage point of the world of options trading Dan Passarelli spent twelve years as a veteran floor trader and market maker at both COBE and CBOT. As an educator, he has taught thousands of people how to make a living as traders by beating the market on a regular basis. Now, this extraordinarily successful market-maker-turned-market-taker shares the knowledge and insights he gained as a professional trader on the floor of the options exchange with the public. In The Market Taker s Edge, Passarelli offers a blend of entertaining true stories from the trading floor and the tips and insights you need to drive profits on consistent basis. Table of Contents Chapter 1: My First Year: What I learned, and How I learned It; Chapter 2: Hoping to Never Have to Get a Real Job; Chapter 3: There are Options and There are Options; Chapter 4: Market Mechanics and Entering Trades: Know Your Enemy; Chapter 5: The Shift of Power: How Decimals, Multiple Listing and Payment for Orderflow Changed the Rules of the Game; Chapter 6: Expiration Trading: Cranking Up the Gain; Chapter 7: The Symbiotic Relationship of the Makers and the Takers; Chapter 8: Volatility on Every Trade; Chapter 9: Volatility and Straddles: The Market Maker Trade; Chapter 10: Arbitrage on the Trading Floor: How Small Profits Add Up to Big Dollars; Chapter 11: Synthetics: The Floor Trader s Indifference Between Puts and Calls; Chapter 12: Looking Over the Hedges; Chapter 13: Monitoring an Option Portfolio; Chapter 14: Couting Your Chickens After They ve Been Hatched; Chapter 15: Sleeping with the Television On; Chapter 16: The Waiting Game: Why (sometimes) Being a Floor Trader Can Be Really Boring Sometimes; Chapter 17; Chapter 18; Chapter 19; Chapter 20: Sayings, Stories and Adventures From the Epicenter of the Options Universe. Bookseller Inventory # BZV9780071754927

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