How I learned to trade like Tom Sosnoff and Tony Battista: Book Two. Advanced Strategies and Insights

I saw the Rising Star segment on tastytrade with Tony- and was excited to get his book. If you want a reference for strategies with some useful tips, following the tastytrade ways as seen in their education videos, then this is great- it's hard to go back to videos all the time and you just want to look up a strategy and refresh your memory etc- great book for that. I wouldn't hesitate buying again or recommending. However, it's a little surprise and disappointing that the editing is so poor... an incredible amount of basic copy editing mistakes is just odd... would have though he would have taken more pride in his work or at least revised it when this became so obvious. Maybe he will care about it at some point... but good stuff otherwise

I would only recommend this book to someone who watches Tastytrade programming. It's more of a collection of pointers presented during Tastytrade's programs.It reads like someone took notes while watching Tastytrade programs like Market Measures and Tasty Bites and then published their notebook. For example, the stand-alone sentence on page 3, "You can still create time decay while buying a debit spread." No context, no explanation. Just a statement. I was also disappointed by the chapter on pot odds.It will serve as a useful reference for frequent Tastytrade viewers but do not use this book by itself as a means to learn or develop trading strategies.For those not familier with Tastytrade, it's the best option out there for learning options trading, and it's free. Their methodology for those who are learning to trade options or with small account balances (under $25K) is simple:1 - Sell $1-wide option spreads on stocks with a) a price between $15 and $50 (stocks above $50 typically don't have dollar-increment strikes in their options chain) b) a Current IV Percentile above 50 (also called IV Rank, you can find this stat on the ThinkorSwim or their dough platform)and the options should be c) penny-increment options for liquidity d) around 45 days to expiration to "give yourself time to be right" (meaning if a trade goes bad it will have time to turn around) e) have about a 70% probability of expiring out-of-the-money (another stat available on the ThinkorSwim and dough platforms)2 - Manage winners, not losers, meaning if you get a decent profit (50% to 75% of max profit) take it off but give losers time to turn around.3 - Above all else, TRADE SMALL (single-contract spreads on dollar-wide strikes for the first couple years) so your losing trades don't lose you that much and TRADE OFTEN so the higher number of occurrences gets the "law of large numbers" theory to work in your favor (have a lot of trades on at any given time as your account balance allows, while not having more than half your account value at risk at any given time). Your long-run odds of success are much better if you routinely risk $70 on each of ten trades than $700 on one trade.For example, you sell $1-wide spreads that expire in 45 days collecting 30 cents ($30) which gives you 70 cents ($70) of risk on each trade. With a $2,000 account you can have $1,000/$70 or 14 trades on at a time. When your "P/L Open" (profit since opening the trade) is up $20 to $25 close the position (the old saying "a bird in the hand...") and go on to the next trade.

I don't think I am normally prone to hyperbole, but this is the best options book I have ever read. I bought Book 2 first, and have been so impressed that I went back and bought Book 1. From the unreadable to the unusable, every kind of options book exists out there in the libraries, bookstores and websites of the world. Most are junk. This is the first one that actually gives you strategies, methods, tips, and insights on what to do from your first trade to a full portfolio. Understand that the material is not about conventional options thinking -- there is nothing about buying, only selling options. And some can get a little complicated. But spend a little time with Tom Sosnoff and Tony Battisita at tastytrade.com, and you will see why. IMHO these guys are the best, widely-known traders on the planet (with John Carter at Simpleroptions.com) and Tony Rihan captures all their very best thinking. Read and you will never trade options the same way again.Yes, I loved the book (and read it in one sitting), and, no, I do not know any of these people nor have any connection with them -- other than loving to trade.Trade well and prosper!

I have been spending endless hours watching archived videos of Tom Sosnoff and Tony Battista and taking notes. Tony Rihan's books are a great compendium of their teachings and these books are always close to me for referring on the various matters relating to options trading the way Messrs Tom Sosnoff and Tony Battista teach. Many thanks to Tony Rihan for writing the books in a format that lends itself to this role.Other reviewers have criticized the style of writing and typo errors. These do not distract me at all as I focus on the substance in the books and the style is secondary. It is a self published book and these errors are quite pardonable. There is one thing that I would have liked; a website where Tony Rihan could present the errata for the books and put forth more material to clarify those matters that may be unclear to the readers. These issues are inevitable with self-published books.Overall, I am very pleased with these two books and would whole-heartedly recommend to anybody who wishes to follow TastyTrade way of trading options.Best regards

This is a must have book for any retail trader! I know everything in it from watching tastytrade for the past 2 years, however Tony's book is so well thought out and organized, it is the best way to test my knowledge of what I think I already know and he puts in his personal experiences which I find invaluable. This book is the best book I have in my library right behind Sheldonberg's books.Tony if you read this ever I'm convinced that you are seldom in the " house of pain" from what I gather in the book you have one of the clearest understanding of the way we trade at home on the couch.I will buy additional copies of this book and give it to my next friend who wants to learn to trade that's how much I like this book

For options traders, this is a must on your desk.

It was exactly what I was looking for.