Trading Options at Expiration: Strategies and Models for Winning the Endgame,Used

Equity and index options expire on the third Friday of each month. As that moment approaches, unusual market forces create option price distortions, rarely understood by most investors. These distortions give rise to outstanding trading opportunities with enormous profit potential. In Trading Options at Expiration: Strategies and Models for Winning the Endgame, leading options trader Jeff Augen explores this extraordinary opportunity with neverbefore published statistical models, minutebyminute pricing analysis, and optimized trading strategies that regularly deliver returns of 40%300% per trade.Youll learn how to structure positions that profit from endofcontract price distortions with remarkably low risk. These strategies dont rely on your ability to pick stocks or predict market direction and they only require one or two days of market exposure per month. Augen also discusses: Three powerful endofcycle effects not comprehended by contemporary pricing models Trading only one or two days each month and avoiding overnight exposure Leveraging the surprising power of expirationday pricing dynamicsIf youre looking for an innovative new way to reignite your returns no matter where the markets move, youve found it in Trading Options at Expiration.Learn and profit from Jeff Augens book: It clearly explains how to take advantage of market inefficiencies in collapsing implied volatility, effects of strike price, and time decay. A mustread for individuals who are options oriented.Ralph J. Acampora, CMT, Director of Technical Analysis Studies, New York Institute of FinanceA fantastic, insightful book full of meticulously compiled statistics about anomalies that surround option expiration. Not only does Augen present a set of effective trading strategies to capitalize on these anomalies, he walks through the performance of each across several expirations. His advice is practical and readily applicable: He outlines common pitfalls, gives guidance on timing your executions, and even includes code that can be used to perform the same calculations he does in the text. A thoroughly enjoyable read that will give you a true edge in your option trading.Alexis Goldstein, Vice President, Equity Derivatives Business AnalystMr. Augen makes a careful and systematic study of option prices at expiration. His translation of price behavior into trading strategy is intriguing work, and the level of detail is impressive.Dr. Robert Jennings, Professor of Finance, Indiana University Kelly School of BusinessThis book fills a gap in the vast amount of literature on derivatives trading and stands out for being extremely well written, clear, concise, and very low on jargonperfect for traders looking to evolve their equity option strategies.Nazzaro Angelini, Principal, Spearpoint CapitalInstead of considering macrotime strategies that take weeks to unfold, Jeff Augen is thinking micro herehours or daysspecifically the days or hours right before expiration, and harnessing grinding, remorseless options decay for profit. He builds a compelling case for the strategy here. The concept of using ratio spreads plus risk management for as brief a period as one dayopen to closeto capture expiring premium is worth the price of admission alone. A superb followup to his first book. Mustread for the serious options student.John A. Sarkett, Option Wizard software