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Full Description
To protect portfolios in today's volatile and uncertain market environment, institutional investors need to hedge losses, create extra sources of income, and reduce risk. In his extensively updated and expanded Options Trading for the Institutional Investor, Third Edition, renowned options expert Michael C. Thomsett shows how to do all this effectively. One step at a time, Thomsett helps institutional investors exploit powerful, carefully chosen options strategies that can dramatically increase overall returns as you manage risks within your institution's limits. Thomsett discusses covered call writing on carefully selected stocks, contingent purchase strategies, and powerful "combination" strategies that produce cash to bolster current income. He guides professional investors through every strategy, using actual examples, portfolios, and graphs taken directly from today's markets. Wherever applicable, he addresses specific forms of risk and volatility that only institutional investors face. This thoroughly updated Third Edition includes a chart-based analytical method that relies on reversal signals in the underlying as an alternative to volatility analysis.Thomsett presents new chapters on two powerful strategies he has developed and utilized to optimize returns while minimizing risk: the 1-2-3 Iron Butterfly, and the Dividend Collar. This edition also adds detailed new coverage of risk evaluation.
Contents
Preface xi Chapter 1 Setting the Ground Rules 1 Chapter 2 Option Basics 15 Chapter 3 Options in Context 61 Chapter 4 Chart-Based Analysis 97 Chapter 5 Managing Profits and Losses 121 Chapter 6 Options as Cash Generators 143 Chapter 7 The 1-2-3 Iron Butterfly 169 Chapter 8 The Dividend Collar 179 Chapter 9 Alternatives to Stock Purchase 193 Chapter 10 Option Strategies in Down Markets 217 Chapter 11 Combination Conservative Techniques 251 Chapter 12 Risk Evaluation Techniques 281 Chapter 13 Stock Selection and the Option Contract 291 Glossary 309 Appendix: Option Trading Strategies 315 Index 319
