About the Book
"If the conditions are just right, amazing things happen when many individual pieces come together: water molecules organize and form snowflakes, jet streams combine and cause tornadoes, cells arrange and create organs, investors panic sell and induce financial crashes. Complex systems are composed of many interacting parts, and emergence occurs when these parts organize to create collective phenomena that no one part can create alone. Complex systems can be found in nearly every discipline, and the mathematics describing emergent properties is not only fascinating but indicates fundamental similarities between seemingly unrelated complex systems. Many physicists develop an interest in finance because physical systems and financial systems can be analyzed with similar theoretical, statistical, and computational tools. It was my interest in those mathematical connections that drew me to finance. However, after placing my first trade at the start of the 2020 crash, I quickly learned the importance of financial intuition, particularly when trading options."--
Book Synopsis
An approachable guide to sustainable options trading, minimal luck needed.
Traders who are successful long-term do not rely on luck, but rather their ability to adapt, strategize, and utilize available tools and information. Modern markets are becoming increasingly accessible to the average consumer, and the emergence of retail options trading is opening a world of opportunities for the individual investor. Options are highly versatile and complex financial instruments that were exclusive to industry professionals until recently. So where should beginners start? The Unlucky Investor's Guide to Options Trading breaks down the science of options trading to suit interested traders from any background. Using statistics and historical options data, readers will develop an intuitive understanding of the potential risks and rewards of options contracts. From the basics of options trading to strategy construction and portfolio management, The Unlucky Investor's Guide to Options Trading guides readers through the world of options and teaches the crucial risk management techniques for sustainable investing.
From the Back Cover
Some luck is needed with any type of investing, but investors who are successful in the long-term do not rely on it. Instead, consistently successful traders effectively utilize the tools, instruments, and information at their disposal and learn how to adapt to the dynamic conditions of the market. Options are precisely customizable financial assets that have the capacity to generate profits in any type of market environment. For more risk-tolerant traders, they can be used to build reliable investment strategies, tailored according to one's personal profit goals and risk preferences. Investors often fall into the trap of focusing on the potential rewards of options without properly assessing the associated risks or building strategies that are not backed by statistics. The Unlucky Investor's Guide to Options Trading elucidates these pitfalls and teaches new investors all about the basics of options and how to develop sustainable, actionable options strategies consistent with one's personal investing objectives.
"Options trading and cards for money aren't for fools hoping for luck. This is a serious but easy to read introduction for those ready to try constructing options trades."
--Aaron Brown, Author of The Poker Face of Wall Street and Red-Blooded Risk
"Captivating -- that usually describes a spy thriller, but it applies well to this options trading book... If you think you know everything about options already, this book will surprise you."
--Ernest P. Chan, Author of Quantitative Trading: How to Build Your Own Algorithmic Trading Business
About the Author
JULIA SPINA is a member of the research team and podcast co-host at tastytrade where she works as a financial educator and options strategist. Drawing from her background in physics and experience with signal processing and data analysis, Julia introduces viewers to topics in quantitative finance and their applications in options strategy development. At the University of Illinois, she earned bachelor's degrees in engineering physics (2017) and applied mathematics (2017) and a master's in physics (2018).
TOM SOSNOFF is an online brokerage innovator, financial educator, and the founder and co-CEO of tastytrade. Tom is a serial entrepreneur who cofounded thinkorswim in 1999, tastytrade in 2011, tastyworks in 2017, helped to launch Luckbox magazine in 2019, and in 2020 created the first new futures exchange in 20 years, The Small Exchange. Currently, Tom hosts tastytrade LIVE and continues to drive know-how for the do-it-yourself investor. Tom has been named to Techweek's Tech 100 list, Crain's Chicago Business's Tech 50, and has spoken at more than 500 events across the globe.
