Options: Perception and Deception provides the most rigorous methods ever published to understanding and managing options risk. For traders, the book furnishes precise answers to handling risk. For risk managers and upper level executives, the book demonstrates how to analyze and deal with firm-side derivatives risk.Destined to become a classic of trading literature, the book demonstrates how perception of risk is the key element to successful options trading. In easy-to-understand, down-to-earth language, Cottle shows traders how to develop an intuitive sense of risk on any options position, from simple puts and calls to sophisticated straddles and butterflies.Although most options positions contain layers of risk that can lead to huge losses, Cottle explains how to peel off each layer to isolate inappropriate risks, adjust positions as the underlying market changes, and optimize the potential of the options position.No other book so successfully merges options theory with actual market experience as Options: Perception and Deception. Other highlights include breaking down options positions and quantifying the hierarchy of risk; eliminating or reducing unproductive and unwarranted risk; and matching strategy to your market outlook. Read Less