Master option trading strategies one step at a time! Options for the Beginner and Beyond, Second Edition teaches options through brief, carefully-paced lessons on option concepts and trading strategies, crystal-clear definitions, and plenty of real trading examples. Every lesson builds on the one preceding it, explaining options in plain English, and guiding you all the way to advanced strategies covered in no other introductory tutorial. Drawing on his extensive experience teaching options trading to beginners -- and five years editing a leading options newsletter -- W. Edward Olmstead shows how to systematically control your risk, protect your investments, and maximize your profits. This new Second Edition integrates new coverage of weekly options throughout, and presents updated tax strategies every options trader needs to know. Olmstead shows you how to do all this, and much more: * Select options with high profit potential * Enter and exit trades * Choose brokers * Work with the Greeks, risk graphs, and LEAPs * Use vertical, event producing, and calendar spreads * Trade covered calls, straddles, strangles, married puts, and collars * Master these and other sophisticated strategies: naked options, stock substitutes, backspreads, butteryfly spreads, iron condors, and double diagonals * Implement effective end-of-year tax strategies * Day trade indexes with options * Use delta-neutral trading * Leverage the theory of maximum pain; implied volatility, and Black-Scholes