Using Options To Buy Stocks (2000).pdf

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Using Options to Buy Stocks
Build Wealth with Little Risk and No Capital
Dennis Eisen, Ph.D.
Dearborn™
A Kaplan Professional Company
 
Page ii
This publication is designed to provide accurate and authoritative information in regard
to the subject matter covered. It is sold with the understanding that the publisher is not
engaged in rendering legal, accounting, or other professional service. If legal advice or
other expert assistance is required, the services of a competent professional should be
sought.
Associate Publisher: Cynthia Zigmund
Managing Editor: Jack Kiburz
Project Editor: Trey Thoelcke
Interior Design: Lucy Jenkins
Cover Design: Scott Rattray, Rattray Design
Typesetting: Elizabeth Pitts
© 2000 by Dennis Eisen
Published by Dearborn
A Kaplan Professional Company
All rights reserved. The text of this publication, or any part thereof, may not be
reproduced in any manner whatsoever without written permission from the publisher.
Printed in the United States of America
00 01 02 10 9 8 7 6 5 4 3 2 1
Library of Congress Cataloging-in-Publication Data
Eisen, Dennis.
Using options to buy stocks / Dennis Eisen.
p. cm.
Includes bibliographical references and index.
ISBN 0-7931-3414-5 (pbk.)
1. Stock options—Handbooks, manuals, etc. 2. Investments—Handbooks,
manuals, etc.
I. Title.
HG6042.E373 2000
332.63'228—dc21 99-049348
Dearborn books are available at special quantity discounts to use as premiums and sales
promotions, or for use in corporate training programs. For more information, please call
the Special Sales Manager at 800-621-9621, ext. 4514, or write to Dearborn Financial
Publishing, Inc., 155 N. Wacker Drive, Chicago, IL 60606-1719.
 
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CONTENTS
Preface
v
Part One
The Basic Approach
1
1. Introduction
3
2. Long-Term Options
17
3. Basic Strategy
35
4. Margin
51
5. Disposition and Taxes
63
Part Two
Risk, Reward, and Safety
75
6. Baseline Analysis
77
7. Eliminating Dogs
91
8. Out-of-the-Money LEAPS
99
9. Roll 'Em Out
109
10. Buy 'Em Out
123
11. Advanced Strategies
147
12. Hedging for Disaster
155
Part Three
Volatility and Premiums
165
13. Measuring Volatility
167
 
14. Option Premiums
181
15. American-Style Options
189
Part Four
Additional Resources
203
16. My Favorite Web Sites
205
17. Selected Bibliography
217
Appendix A: European Put Premiums
221
Appendix B: American Put Premiums
235
Appendix C: In-the-Money Probabilities
289
Index
335
 

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