Get Rich with Options PDF

Get Rich with Options PDF

Get Rich with Options PDF (Four Winning Strategies Straight from the Exchange Floor)- second edition- provides you with the knowledge and strategies needed to achieve optimal results within the options market. It quickly covers the basics before moving on to the four options trading strategies that have helped Lowell profit in this arena time and again: buying deep-in-the-money call options, selling naked put options, selling option credit spreads, and selling covered calls.

Category: Options

Author: Lee Lowel 

Language: English

Free download link: At the end of the post


A detailed guide to successfully trading stock and commodity options

After numerous years as an options market-maker in the trenches of the New York Mercantile Exchange, few analysts know how to make money trading options like author Lee Lowell. Now, in the Second Edition of Get Rich with Options, Lowell returns to show you exactly what works and what doesn’t.

Filled with in-depth insight and expert advice, this reliable resource provides you with the knowledge and strategies needed to achieve optimal results within the options market. It quickly covers the basics before moving on to the four options trading strategies that have helped Lowell profit in this arena time and again: buying deep-in-the-money call options, selling naked put options, selling option credit spreads, and selling covered calls.

  • Breaks down four of the best options trading strategies currently available
  • Explains how to set up a home-based business with the best options trading software, tools, and Web sites
  • Contains detailed discussions of how options can be used as a hedging or speculating instrument

With this book as your guide, you’ll quickly see options in a whole new light and learn how to become part of a small group of investors who consistently win.


When I was approached recently by the team at John Wiley & Sons about writing a revision for this book, I had already been thinking about how and what I would change if ever given the chance. Now that I have the opportunity, let me fill you in on what you can expect to see in this version.

Before I tell you what has changed, I just want to say thanks to my friends and colleagues for giving me their insight on what they’d like to see be different if I ever revised the book. But I must say, the biggest input on what I needed to revamp has come from the reviews from random readers who were nice enough to post their thoughts on Yep, that’s right. To date, there have been 44 reviews of my book at Amazon and all have been helpful to me.The most common remarks from the few readers who didn’t think my book was up to snuff were the problems they had with the title (of all things!). They felt duped by the title and that the book didn’t show them the ways to Get Rich with Options.

I’ve put every bit of my knowledge and experience into this book to show ordinary people how to use options the way that has brought me success over the last 17 years. You can definitely get rich trading options, but you must do it correctly. I’m convinced, though, that these readers just didn’t connect the title with how well the strategies really work to increase your wealth. As you will read in my book, the one fact that I keep advocating over and over again is that you need to be on the sell side of options trading.

I think some of the naysayer reviewers of my book didn’t really understand the concept of selling options as a means of immediate income generation through safer speculation and hedging techniques, or they didn’t really understand how to do it, or maybe they got burned in the past by selling options incorrectly.

My goal was to show you how to trade options the proper way with the four strategies (and a bonus fifth one at the end of the book) that I’ve used continuously over the years. All the money that you can bring into your account by selling options can add up to incredible sums over time. Just think about what you’d be leaving on the table if you never sold options in the first place—you’d be leaving lots of money for someone else to pick up.

So, on that note, I’m going to stress a bit more directly in this edition about how you can get rich with options. None of the strategies that I discuss are different from the first edition of this book. They’re still as sound as the day that I first wrote about them. I’ll just be a little more detailed on how options trading can fatten your wallet. You’ll also be seeing more examples of two of my favorite strategies—option credit spreads and put-option selling. Since I now run two option advisory services that focus specifically on these two strategies, I am including real-life, archived recommendations that show my members what trades to take and when to take profits.

I’ve also been asked to discuss in more detail the ways in which I find the stocks or commodities that I trade the options, on as well as exit strategies during profitable and not profitable trades. Since the intention of this book was solely to teach the reader how to trade options profitably once they’ve already picked their stock or commodity market, the discussion of how to find the stocks or commodities was kept at a minimum. I will tell you this: Most of my decisions on which stock or commodity to pick is based primarily on chart patterns and, to a lesser degree, the fundamentals of the underlying.

There are parts already within the book in which I briefly discuss how I came to choose the underlying that I did, but I make the effort to expand on it a bit more in this revised edition. There are many great books out there now that can teach you about technical and fundamental analysis to help you get started on being able to pick the underlying, but those lessons are beyond the scope of this book. And as far as discussing exit strategies, I also go over this as much as I can as we discuss each strategy individually.

The last thing I want to say about some the reviews that I received is that you cannot please everyone. Someone will always find fault in whatever you do—and this applies to life in general, not just my book. I tried to make this book as complete as possible to get you on your way to surviving and profiting in the options market. But by no means is this book the end-all and be-all of options books. No one could provide that to you no matter what the adviser’s background or experience has been. I encourage you to use this book as a great starting point and reference it well into the future.

I hope you decide to stick around and read (or reread) my book because I really tried to make it as fun and enjoyable as I could for you to learn about options trading and how you can get your hands on some of the wealth that is there for the taking in this arena.

January 2009

Table of Contents- Get Rich with Options PDF

Preface to the Second Edition ix

Acknowledgments xiii

Part One: The option basics 1

CHAPTER 1: It’s All about the Calls and Puts 3

CHAPTER 2: How Options are Priced 15

CHAPTER 3: Option Volatility 27

CHAPTER 4: Stocks versus Options 47

CHAPTER 5: Option Selling Is Your Key to Success 57

Part Two: The strategies 69

CHAPTER 6: Buy All the Stock You Want for Half the Price 71

CHAPTER 7: Getting Paid to Buy Your Favorite Stock 93

CHAPTER 8: Option Credit Spreads: The All-Star Strategy 121

CHAPTER 9: A Day in the Life of the Market Maker 173

CHAPTER 10: Put Your Stocks to Work—Sell Covered Calls 185

CHAPTER 11: A Bonus Strategy: Ratio Option Spreads 205

Part Three: Getting Ready to Trade 227

CHAPTER 12: Tools of the Trade 229

CHAPTER 13: Brokers and Commissions 235

Conclusion 243

Index 247


“No more excuses! Get Rich with Options provides a clear, honest, and detailed picture of the potential to trade stock and commodity options successfully. Lee covers all the bases, starting with the basics then spending time on concepts such as ITM, OTM, ATM, volatility, spreads, and delta. He turns the mystery of options trading into something cohesive and does it in an entirely user-friendly way. Get Rich with Options is the perfect segue into the world of options trading for anyone who has been intrigued by this investment strategy but too intimidated to try it. For the more seasoned trader, Lee offers little-known tips and advice that have kept him ahead of the pack for years. This is a rare how-to guide that answers all the questions, gives step-by-step instructions, and should be on every options trader’s bookshelf.”
—Margaret Beeler, Managing Director, International Strategy & Investment, Inc.

“There are many options books in the market today. For the most part, they impart sterile options strategies that will ‘theoretically’ work for you. But, they are written from the perspective of an academic. In Lee Lowell’s Get Rich with Options, you will learn options and commodities basics. That’s not where the value is. The value of this outstanding, understandable book comes from the author’s perspective of how to trade options and commodities. Lee Lowell brings you the secrets from the trading pits in New York, the secrets of a market-maker, a trader who MUST make money to survive, a trader who has made thousands of successful trades. After reading the book, you will come away with a professional education, and the stark realization that trading options is easier than you think, more profitable than you could imagine, and that there are only three or four surefire strategies that will make you a lot of money consistently. Clear your shelf for this one, it is an invaluable guide for the fastest growing segment of the investment arena today.”
—Karim Rahemtulla, Chairman, Mt. Vernon Research

“Option strategies are often delivered in a sea of hype. It’s refreshing to learn from someone like Lee who takes a conservative, no-BS approach to options and still makes investors money. I’m impressed by his frankness, his sincerity, and the way he manages risk.”
—Julia Guth, Publisher, The Oxford Club/Investment U

“Lee Lowell leads us down the road of complex derivative products and takes us out the other side much more profitably. This book will show you that trading on options is not out of reach. Lee takes complex ideas and breaks them down step by step to help every trader from novice to expert master the art of options trading. I found new ideas and skills at every turn in this book and think it’s a must-read for the serious commodity options trader.”
—Kevin Kerr, Editor, Resource Trader Alert, columnist, Dow Jones MarketWatch

About the author

Lee Lowel is an options trading expert for Mt. Vernon Research, a subsidiary of Agora Publishing, and is recognized as one of America’s leading options professionals. Lowell has spent fifteen years in the options trenches, first as a market maker on the floor of the New York Mercantile Exchange (NYMEX) and, more recently, as head of his own trading business. Lowell is also the editor of The Delta Force Trader for Mt. Vernon Research and coeditor of Agora’s Accelerated Profits Report and The Smart Options e-Report. He’s had numerous articles published in leading financial magazines, including Futures and Technical Analysis of Stocks and Commodities.

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