Sheldon Natenberg

This book provides introduction to mathematical models of options. On a plus side, it gives the best explanation I ever seen of option analytics. On the downside, the practical value of this book - at least for non-institutional options trader - is quite limited. If there is any advantage in arbitrage to be taken in the current environment (the book was written in 1994, before electronic options trading), it will not be available to individuals, since such arbitrage opportunities will disappear almost momentarily. It's interesting to see some of theoretical explanations but most of the time it is something that most traders already know intuitively. One more complaint - the book contains explanation/commentary/models for options of stocks as well as futures. This really should be covered in a separate volumes since they are quite different.… (plus d'informations)