32 lines
2.1 KiB
Plaintext
32 lines
2.1 KiB
Plaintext
Foreword
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The past several years have brought about a resurgence in market volatility
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and options volume unlike anything that has been seen since the close of the
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twentieth century. As markets have become more interdependent,
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interrelated, and international, the U.S. listed option markets have solidified
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their place as the most liquid and transparent venue for risk management
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and hedging activities of the world’s largest economy. Technology,
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competition, innovation, and reliability have become the hallmarks of the
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industry, and our customer base has benefited tremendously from this
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ongoing evolution.
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However, these advances can be properly tapped only when the users of
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the product continue to expand their knowledge of the options product and
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its unique features. Education has always been the driver of growth in our
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business, and it will be the steward of the next generation of options traders.
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Dan Passarelli’s new and updated book Trading Option Greeks is a
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necessity for customers and traders alike to ensure that they possess the
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knowledge to succeed and attain their objectives in the high-speed, highly
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technical arena that the options market has become.
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The retail trader of the past has given way to a new retail trader of the
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present—one with an increased level of technology, support, capital
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treatment, and product selection. The impact of the staggering growth in
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such products as the CBOE Holdings’ VIX options and futures, and the
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literally dozens of other products tied to it, have made the volatility asset
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class a new, unique, and permanent pillar of today’s option markets.
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Dan’s updated book continues his mission of supporting, preparing, and
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reinforcing the trader’s understanding of pricing, volatility, market
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terminology, and strategy, in a way that few other books have been able.
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Using a perspective forged from years as an options market maker,
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professional trader, and customer, Dan has once again provided a resource
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for those who wish to know best how the option markets behave today, and
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how they are likely to continue to behave in the future. It is important to
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understand not only what happens in the options space, but also why it |