Renowned options expert David Caplan shows investors how to analyze probabilities and create options positions that place the odds squarely in their favor. A savvy, streetwise book, the New Options Advantage eschews theory in favor of providing readers with strategies that really work. Completely updated, this edition contains an expanded discussion of volatility, on of the most important factors in options trading. Packed full of insights derived from years of successful trading. The New Options Advantage will appeal to a wide spectrum of traders. This book contains specific topics that include: the trading edge philosophy; understanding and using option volatility; identifying and exploiting undervalued and overvalued options; strategies for different market outlooks; and using a computer to trade options.