Exit Strategies for Covered Call Writing reveals the best and most effective procedures to manage your stock option positions. After selling a call option, many investors simply permit the result to run its own course through expiration Friday. This will cost you money! By administering well-thought-out exit strategies, based on sound fundamental and technical principles along with your common sense, your profits will be maximized and your losses will be diminished. Alan Ellman…
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North Pole seems to believe that Alan Ellman’s covered call books are supposed to be magnificent technical tomes regarding option pricing, timing and selection. That is not what they are intended to be. If you want a detailed discussion of Black-Scholes analysis there are many other books out there. If you don’t know what Black-Scholes is, then this book may be just what you are looking for.
There is a reason why the cover says “Blue Collar Investor”, instead of “White Collar Investor”. These books are for the basic stock investor. They leave out a lot of technical jargon which average investors just ignore anyway. I am a certified public accountant. I have been trading options for more than 30 years. I have found Alan’s method of picking stocks to be one of the most helpful investment tools I have ever read. Exit Strategies was written because many of his students, nearing expiration dates, emailed requests to Alan asking, “What should I do now?”. This book attempts to give some guidance to the blue collar investor in this regard.
If you are a Wall Street trader, stock broker or hedge fund manager it probably isn’t for you. Yes it is simplistic. That is it’s purpose. It is intended to bring what passes as a complex trading strategy down to earth for the small investor who doesn’t have $500,000 to invest with some genius who will turn it into $350,000. So, take North Pole’s advice. If you are looking for an insomnia cure explaining the precise reason for an option’s price at 1:38PM on Tuesday, this is NOT it. If you want a helpful, easy to read, and understand, book on covered call writing, then buy Alan Ellman’s books.
Disclosure: I built the Excel option calculator which Alan distributes to his students. It was designed to be simple and easy to use and understand. No, I do not receive anything from the sale, or my endorsement, of his books.
This book is the perfect compliment to the author’s first book, “Cashing in On Covered Calls.” I am aware of no other book that deals specifically with exit strategies in connection with covered calls, so the book, in topic alone, is truly one of a kind. That being said, like the author’s first book, the concepts and ideas are explained in refreshingly simplistic terms that quickly eliminate any preconceived notions that options trading is “only for professionals.” Having read both of Ellman’s publications, I now only buy optionable securities (writing covered calls on almost all of them) and have more money to show for my decision-these strategies really work!!
Alan Ellman’s book “Exit Strategies for Covered Call Writing: Making the most money when selling stock options” is a MUST READ! If you have not read his first book “Cashing in on Covered Calls. Investing with Stock Options”, what are you waiting for? Alan’s first book enables you to develop a very good understanding of covered calls. It focuses on how to screen for stocks (that are good candidates to sell covered calls), how to determine the potential returns on your investment and also introduces you to exit strategies for options that are going to expire. This second book is the perfect compliment to the first, taking over where the other left off with regards to the expiration of options. Not unlike the first book, Alan gives you a system in which to use Exit Strategies to maximize the rate of return on your investment. I highly recommend this book to novice and experienced investor alike.