href="#ulink_d0a5fa38-86bd-59aa-8986-202d9a3ad534">Bibliography
Figures
Figure 1: CatchMark Timber Trust Inc. (CTT), Preis in USD, vom 15.02.2019 16
Figure 2: Option chain of the SPY 28
Figure 3: Rights and obligations for buyers and sellers 41
Figure 4: P/L-Diagram (Long-Call) 47
Figure 5: P/L-Diagram (Short-Call) 49
Figure 6: P/L-Diagram (Iron Condor) 50
Figure 7: "Moneyness" #1 63
Figure 8: „Moneyness“ #2 64
Figure 9: Intrinsic & extrinsic value or „Moneyness“ 71
Figure 10: Gamma-Change during days into trade 81
Figure 11: : Gamma-Influence on your P/L during the trade 82
Figure 12: Gamma within different strategies 82
Figure 13: Gamma at different strikes 83
Figure 14: Thetadecay over time, combined with premium 88
Figure 15: Verhältnis Ratio of premium / theta decay 88
Figure 16: Vega in different strategies 91
Figure 17: Vega at different strikes and expirations 92
Figure 18: Different IV-Ranks and their interpretations 97
Figure 19: Calculating the IVR 99
Figure 20: Expected Move at IV=15 102
Figure 21: Expected Move at IV=30 102
Figure 22: VIX "Contango" 105
Figure 23: VIX "Backwardation" 106
Figure 24: Graphical representation of the 1st and 2nd standard deviation in the SPY with an IVR of 11 117
Figure 25: Probability of Profit Strangles; 1. vs. 2. standard deviation 119
Figure 26: Strangles; 1. vs. 2. standard deviation (simulation with 1 million USD account size, of which 25% was actively used for trades). 75% were held in cash. 119
Figure 27: Strangles, 1st vs. 2nd standard deviation, graphical 120
Figure 28: P/L-Diagram Short-Put 123
Figure 29: P/L-Diagram Short-Call 124
Figure 30: P/L-Diagram Strangle 125
Figure 31: P/L-Diagram at 10 DTE 127
Figure 32: P/L-Diagram at 45 DTE 128
Figure 33: P/L-Diagram Long-Put 130
Figure 34: P/L-Diagram Long Call 131
Figure 35: Example for narrow spreads, good volume and good open interest in the SPY 139
Figure 36: Example for the required Buying-Power of a Strangles in Canopy (CGC) 150
Figure 37: A healthy "middle course" through diversification 166
Figure 38: Historical vs. implied volatility 182
Figure 39: Sorting of shares according to IVR 184
Figure 40: P/L-Diagram Long-Put 189
Figure 41: P/L-Diagram Naked-Short-Put 192
Figure 42: P/L-Diagram Long-Call 196
Figure 43: P/L-Diagram Naked Short Call 199
Figure 44: P/L-Diagram Vertical Credit Spread (Put) 216
Figure 45: P/L-Diagram Vertical Credit Spread (Call) 218
Figure 46: P/L-Diagram Strangle 225
Figure 47: P/L-Diagram Iron Condor (same width of the Spreads) 228
Figure 48: P/L-Diagram Straddle 232
Figure 49: P/L-Diagram Iron Fly 236
Figure 50: P/L-Diagram Iron Fly (Example) 238
Figure 51: Take-Profit (before rolling) 272
Figure 52: Take-Profit (after rolling) 273
Figure 53: Rolling process based on a chart 285
Figure 54: Rolling process with P/L-Diagram 285
Figure 55: 1-year chart of ROKU 297
Figure 56: Theta decay over time 300
Figure 57: Strength of the theta decay based on different initial values 301
Figure 58: Comparison of trades with 21 / 45 DTE (in SPY) 302
Figure 59: Long-term comparison of different management approaches 303
Figure 60: Management by strategy 305
Figure 61: Strangles 305
Figure 62: Straddles 306
Figure 63: Naked-Put 306
Figure 64: Naked-Call 306
Figure 65: SPY is a fairly priced underlying 310
Figure 66: P/L-Diagram Strangle (green), Iron Condor with 1 USD (yellow) and 5 USD (turquoise) wide strikes 313
Figure 67: The Greeks: Strangle vs. Iron Condor 313
Figure 68: Influence of the Vega on IC and Strangle 314
Figure 69: Pro/Contra (un)defined risk-strategies 315
Figure 70: Difference in percentage premium at different VIX levels (average premium as a percentage of underlying price) 316
Figure 71: P/L Iron Condor vs. Strangle (low vs. high VIX) 317
Figure 72: Properties of different strategies 320
Figure 73: Volacrush in „BBBY“ before earnings. 328
Figure 74: Selection of the expiration cycle for an earnings trade in BBBY 329
Figure 75: VIX "mean-reverting" 2018 337
Figure 76: Example of a VXXB Trade (Vertical-Spread) 339
Figure
