8 Introduction toOptions Strategies 31 Selecting the Right Security 34 Call Buying 37 Call Writing 41 Put Buying 44 Put Writing

47 Spread Strategies 50 Understanding Spreads 53 Collar Transactions 56 Exit Strategies 59 Rolling Up, Over, and Out 62 Index Options 65 Tax Considerations INVESTING STRATEGIES 4 What Is an Option? 7 How Does OptionsTrading Work? 10 On Which Securities AreOptions O??ered? 13 Where Are Options Listed? 16 What Are the Bene?ts? 19 What Are the Risks? 22 How Do You Get Started? 25 Key Terms and De?nitions THE BASICS 68 Trading Options 71 Options In?ormation Sources 74 Applying Options In?ormationand Analysis 77 Reading Options Charts 80 Options Chains 83 Options Symbology andSources 86 Strategy Screener RESEARCH AND INFORMATION 89

Glossary GlOSSARy