Librería Samer Atenea
Kálamo Books
Librería Elías (Asturias)
Librería Kolima (Madrid)
Librería Proteo (Málaga)
Most options books teach you how to make money. This one teaches you how to keep it.Your long-term results are decided less by your best trades than by the size and duration of your worst ones. A single oversized position, one hedge sold three weeks too early, one decision made at midnight in front of a red screen - that is how portfolios are destroyed. Defensive Options is a complete, plain-English manual for the half of the discipline nobody writes about: protecting what you already own and surviving the trades that go against you.Written for everyday investors who already know what a put and a call are, this is not another beginner’s primer and not a premium-income scheme. It is a working framework for turning open-ended downside into a number you choose in advance.What’s inside:- The recovery arithmetic that makes defense non-negotiable - and why a 50% loss needs a 100% gain- Position sizing: the formula that sets your maximum size before you ever place an order- Protective puts in full: choosing the strike, the expiration, the coverage ratio, and the exit rule- Collars, and the honest price of 'nearly free' protection - including what a zero-cost collar really costs you- How implied volatility, skew, and volatility crush decide whether your hedge is cheap or ruinous- Trade repair: structured alternatives to holding and hoping when you are already underwater- Why a put is a stop-loss that cannot fail, gap, or be cancelled in a panic- Ten specific ways accounts actually die - and one written rule that eliminates each- Portfolio-level hedging, sequence-of-returns risk, and when plain cash beats any option- A one-page written defense plan you can finish this month- A full plain-language glossary of every term usedEvery example is worked out in prose and clean text tables. No charts, no diagrams, no jargon left undefined - readable on any device, at any font size.
