Derivates
Options
30 Years of Practice, explained with simplicity
From the fundamentals to strategies, with a method built on real market experience.
- Authors : Tiziano Cagalli and Denis Moretto
A guide to understanding, building and managing option strategies
This book turns technical concepts into a clear, visual and practical learning path. It does not offer miracle formulas: it helps readers understand what they are doing, why they are doing it and what the consequences of each decision may be.
Who this book is for:
-
For readers starting from the fundamentals
To understand calls, puts, premiums, strikes and expiration without misleading simplifications.
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For professionals and students
To build a sound technical foundation that can be consulted and developed over time.
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For active traders
To organise strategies, payoff profiles and risk management into a coherent framework.
Inside the book
01
Fundamentals
- Option Contracts
- Calls and Puts
- Premiums
- Expiration Dates
02
Core Positions
- Long Call
- Short Call
- Long Put
- Short Put
03
Option Pricing
- Moneyness
- Implied volatility
- Option Greeks
- Price Sensitivity
04
Settlement
- Option Exercise
- Assignment Risk
- Cash Settlement
- Physical Delivery
05
Strategy Types
- Directional Strategies
- Volatility Strategies
- Time decay
- Market Outlook
06
Advanced Spreads
- Vertical Spreads
- Neutral Strategies
- Calendar Spreads
- Multi-Leg Strategies
07
Hedging
- Covered Calls
- Protective Puts
- Collar Strategy
- Portfolio Protection
08
Risk Analysis
- Payoff Diagrams
- Break-Even Points
- Maximum Risk
- Profit Potential
Why read it
Method, not promises
An approach that starts with risk, limits and operational consequences. Before seeking returns, it is essential to understand the risk being taken.
Clear charts and diagrams
Payoffs and strategies are presented in a clean, progressive way, without platform screenshots or real-market data. The focus stays on the financial mechanics.
Decision-making tools
Each construction is examined through its essential variables: objective, break-even point, maximum profit, maximum loss, time and volatility.
Market experience
Thirty years of practice distilled into a rigorous, clear guide designed to be used, not merely read.
Authors
Tiziano Cagalli - Denis Moretto
Build a personal, informed and repeatable method.
A guide for studying options without misleading simplifications, assessing strategies with clarity and developing a disciplined decision-making process.
Disclaimer
This book is intended for educational and informational purposes only. It does not constitute financial advice, a personalised recommendation or an invitation to invest. Options trading involves risk and requires an independent assessment of one’s financial situation and of the instruments used.
