"Options Trading Crash Course" by Frank Richmond is a comprehensive guide to options trading. The book is designed to provide novice traders with a solid foundation in options trading, and to help experienced traders improve their trading strategies.
One of the strengths of the book is its organization. Richmond has structured the book in a logical manner, starting with the basics of options trading and moving on to more advanced topics. The book begins with an introduction to options and their properties, such as strike price, expiration date, and the different types of options. Richmond then moves on to discuss options pricing, volatility, and other important concepts.
One of the most valuable aspects of the book is the numerous examples and case studies that Richmond provides throughout the text. These real-world examples help readers understand how options trading works in practice and how to develop effective trading strategies. The book also includes a variety of interactive exercises that allow readers to apply what they have learned.
The book covers a range of different trading strategies, from basic to more complex. Richmond explains the pros and cons of each strategy, and provides guidance on when each strategy is most appropriate. The book also includes a section on risk management, which is critical for any options trader.
Another valuable feature of the book is the comprehensive glossary of options trading terms. The glossary is an excellent resource for anyone new to options trading, as it provides a clear explanation of the most important terms and concepts.
One of the unique aspects of "Options Trading Crash Course" is the focus on the psychology of trading. Richmond emphasizes the importance of understanding one's emotions and biases when trading options, and provides guidance on how to overcome common psychological pitfalls.
Another strength of the book is its focus on practical advice. Richmond provides guidance on how to select a broker, how to develop a trading plan, and how to use trading software effectively. The book also includes a section on taxes, which is often overlooked in other options trading books.
However, there are a few weaknesses to the book. Firstly, some of the examples and case studies are overly simplistic, which may not be helpful to experienced traders. Additionally, the book could benefit from more detailed explanations of some of the more advanced concepts, such as volatility skew.
Overall, "Options Trading Crash Course" is an excellent resource for anyone interested in options trading. The book is well-written, comprehensive, and provides a thorough understanding of the subject matter. The book is suitable for both novice and experienced traders, and is an essential reference for anyone looking to develop effective trading strategies. The focus on the psychology of trading is particularly valuable, as it is often overlooked in other options trading books.
