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Bibliographic Details

Title: The Options Edge: Winning the Volatility Game with Options On Futures
Publisher: McGraw-Hill
Publication Date: 1998
Language: English
ISBN 10: 0070382964
ISBN 13: 9780070382961
Binding: Hardcover
Condition: good

About this title

Synopsis

With his take-no-prisoners 1994 book Winner Takes All, Bill Gallacher first carved out a reputation as a no-nonsense authority on the futures trading game. Now, with The Options Edge, he focuses on the world of options on futures, exposing the shortcomings of current theoretical pricing formulae and offering a simple, understandable, and widely applicable option pricing model without invoking any complicated mathematics whatsoever. Gallacher’s watershed book represents nothing less than a new mindset for trading options on futures, a revolutionary approach that depends less on esoteric, theoretical abstractions and more on empirical evidence gathered from the real world of options trading.

From the Back Cover

Learn how the options market really works and improve your odds of

winning! As more and more "sophisticated" trading models are pressed

into service to unravel the mysteries of market action, information

overload makes trading markets progressively more unstable. Nowhere is

this truer than in the option pits of the large futures exchanges,

where traders struggle to put a price on uncertainty under conditions

of great underlying price volatility often using formulae of dubious

value. In The Options Edge, professional commodities trader and

researcher Bill Gallacher stands up and shouts, "Enough!" This

extraordinarily practical book dowplays complex formulae and technical

abstractions to explain option pricing form an empirical perspective,

using an extensive futures and options database developed and analyzed

during the years 1996 and 1997. Futures options traders needing

down-to-earth answers to complex questions can look to The Options

Edge for: a thought-provoking discussion and critique of the

Black-Scholes option pricing formulas, and presentation of a much

simpler and sounder alternative; identification of the at-the-money

straddle price as the only true basis for estimating implied

volatility of a commodity futures contract and a fast and accurate

way of calculating this number; historical volatility profiles for all

the actively traded futures contracts; understanding of how one of the

world's largest hedge funds foundered through its misapplication of

the Black-Scholes formula. Profitably trade options on

futures simply, consistently, and without excessive reliance on

algebra and complex statistical formulae with Bill Gallacher's

commonsense The Options Edge.

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

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