Chapter 1
Managing Risk and Uncertainty with Options
Trading in the financial markets can be summarized by the phrase, “You just don’t know what you don’t know.” On one hand, an investor can spend hours with research, due diligence, charts, and mathematical models only to end up with a worthless stock certificate, the result of a rare event that could not have been predicted. On the other hand, an investor can reap a bountiful reward on any stock, option, or future with less due diligence than that performed when purchasing a microwave oven. No charts or formulas involved—just plain profit resulting from old-fashioned intuition.
Today, the flow of information and the speed of its dissemination are simply astounding. In this age of electronic ...
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