THE DYNAMIC OPTION SELECTION SYSTEM：ANALYZING MARKETS AND MANAGING RISK

An indispensable resource for experienced and novice options traders and hedgers alike Dynamic Option Selection System "Howard Simons offers an in-depth look at options and risk management for the serious market participant. He uses his extensive experience as a trader and trading systems designer to provide ten basic principles that are at the foundation of every successful trading methodology." -Leo Melamed, Chairman Emeritus and Senior Policy Advisor, Chicago Mercantile Exchange; Chairman and CEO, Sakura Dellsher, Inc. "Howard Simons's engaging, colloquial manner makes The Dynamic Option Selection System: Analyzing Markets and Managing Risk an enjoyable read for even the most accomplished professional hedger. His ample use of real-life stories, like parables, illustrate the nuances of trading and the complex and opposing interests of buyers and sellers in the marketplace." -Jack Wing, Executive Director and Professor, Center for Law and Financial Markets, Illinois Institute of Technology "It is the risk of potential reward that motivates many traders in today's markets. Employing Howard's ten simple principles allows us to 'put ourselves in the position where the accidents will work in our favor' so that we can remain 'In the Game'." -Bennett J. Corn, President and CEO, Winnipeg Commodity Exchange; Former President, Coffee, Sugar & Cocoa Exchange, Inc.

HOWARD L. SIMONS designs hedging strategies and trading systems and develops value-added investment products for a wide variety of clients in the agricultural, energy, and financial markets. He has served as the architect and manager of a commercial crude oil trading operation; as a commodity trading advisor and fund manager; and as a consultant specializing in risk management solutions for hedgers, professional speculators, and financial institutions. Mr. Simons holds an MBA in finance and economics from the University of Chicago and an MA in international economics from Johns Hopkins University School of Advanced International Studies. He is a contributing editor for Futures magazine and an adjunct professor of finance in the Illinois Institute of Technology's Financial Markets and Trading Program.

THINKING ABOUT MARKETS.

In the Game.

For What It's Worth.

Taking Care of Business.

Take My Risk, Please.

The Beating Heart.

The Shape of Things to Come.

The Original Sin.

TOWARD THE DYNAMIC OPTION SELECTION SYSTEM.

But Not the Obligation.

Choose Your Weapons.

So Many Positions, So Little Time.

Do the Right Thing.

Index.