Managing Expectations: Driving Profitable Option Trading Outcomes through Knowledge, Discipline, and Risk Management - Hardcover

Anthony Saliba

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Hardcover

ISBN 10: 0997577800 ISBN 13: 9780997577808

Publisher: Martinkronicle, 2016

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Options trading legend Anthony Saliba delineates his trading ethos for the first time in Managing Expectations. This includes the strategies and tactics he used to achieve 70 consecutive months of profitable options trading.

In Managing Expectations, Saliba shows options traders how to trade options while navigating the markets for volatility and opportunity. There is a full compliment of studies on first and second order greeks including gamma, delta, vanna, and vomma.

Implied Volatility is studied from a theoretical and practical standpoint. Readers are shown vivid examples of trading around a core option strategy while monitoring the greeks and implied volatility with charts and graphs. You'll learn how to trade the IV of a particular underlying security.

Managing Expectations also shows readers how to roll positions. You can sell a Long Call and go flat taking profits, but you can also deploy several other tactics to prolong profitability. This isn't just theory, but how Saliba trades and how he trained his traders over the years.
This book illustrates trading techniques from short-term gamma scalping to trend following while delineating how to manage risk. Readers will not have any trading blind spots after reading Managing Expectations.

For a limited time, hardcover purchases come with FREE Audiobook and eBook version downloads, as well as the accompanying educational videos.

Register for them at ManagingExpectationsBook.com.

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From the Back Cover

Trading options profitably has proven to be an elusive endeavor for many. Reason: There are many ways to trade listed options and it's hard to find the style that is right for you, a good teacher to show you what to do and what to avoid.

In addition to volatility and price direction, you have the first and second order greeks to evaluate in order to determine if a trade is worthwhile. You can also compare strategies using synthetic positions - a place where this book emphasizes particularly heavily.

Given their flexibility, there is no other instrument in the world that you can deploy in order to carve out a zone of potential profitability for yourself using various combinations... spreads or winged options strategies.

It can be said that options are about 'ceilings' and 'floors' once you select your strike prices. You can bet that the underlying will go above or below a strike price, or bet that it won't get there. You can't do that with any other security. That's a powerful flexibility. That means that you can participate in upward, downward, and sideways markets if you know the correct evaluation techniques.

Full understanding = trading edge.

Knowing the exact risk ahead of time, an owner has the ability to take risk home overnight, through the weekend or during the lead up to major announcements and still have a sense of the max loss. There is still uncertainty, but the worst-case scenario is defined and knowable.

With the tools that Saliba has presented to you here, you'll have myriad ways to evaluate the risks associated with options trading exactly how professional traders do. As Jack Schwager rightly said in the Foreword, Saliba comes to this material having learned it by doing it. There is a great deal of theory, but it's presented from a practitioner's point of view. It's easy to write out the theory, but it's hard to give it context if you haven't been in battle. Saliba has been there since the beginning.

Read. Learn. Trade.

If you'd like to know more about our options courses taught by Tony Saliba, and get the bonus material, go to ManagingExpectationsBook.com.

From the Inside Flap

Over his almost 40 years of trading, TonySaliba is a living legend, having fulfilled every role you can fulfill inthe options business.

For the first time in 10 years, he's showingyou how to use his wisdom of options trading to trade with his mindset and makelarger, more consistent gains with lower risk in his new book Managing Expectations: Driving Profitable Option TradingOutcomes through Knowledge, Discipline, and Risk Management.

Inside, he'll show you how to read the marketsfor price and volume, and then to listen to what Implied Volatility and theGreeks are telling you.

He'll show you how to take a directionaltrade, say a long call, and know when the precise time to convert it into aVertical Bull Call Spread or to roll it.

Then how to leg out of the short call to gonet long again. It's trading around a core position with but with options - andmuch less risk.

Never has someone with his experience walkedyou through this play by play in options trading. Plus, he's recordedvideos that highlight and explain some of the core concepts of this tradingstrategy.

You'll learn how Tony trades. These are Rulesthat you can apply to your trading right away without needing $1,000 monthlysubscription or trading platform.