Option Volatility & Pricing: Advanced Trading Strategies and Techniques. Sheldon Natenberg points out the key concepts essential to successful trading. Drawing on his experience as a professional trader, author Sheldon Natenberg examines both the theory and reality of option trading. He presents the foundations of option theory explaining how this theory can be used to identify and exploit trading opportunities.
This book teaches you to use a wide variety of trading strategies and shows you how to select the strategy that best fits your view of market conditions and individual risk tolerance. New sections include expanded coverage of stock option, strategies for stock index futures and options, broader, more in-depth discussion volatility, analysis of volatility skews and intermarket spreading with options.
If you trade options, you will quickly learn that it is essential to understand the concept of volatility. Natenberg explains the concept of volatility in great detail, and shows how this concept applies to different option positions.
Natenberg not only takes great pains to explain the concept of volatility, in addition to other inputs into an option pricing model, but clearly shows that option pricing isn't the exact science many seem to believe, for the simple reason that we never know if our volatility estimate is correct. I suspect many traders just don't understand the severe limitations current models have in different situations.
One of the most widely read books among active option traders around the world, this book has been completely updated to reflect the most current developments and trends in option products and trading strategies.
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