gives options traders, risk managers, fund managers, and private investors an in-depth guide for valuing options and “the greeks” that does not rely on complicated models. Written by Pierino Ursone, this important resource explains the ins and outs of the commonly used Black and Scholes model that is appreciated for its simplicity and ability to generate a fair value for options pricing in all kinds of markets. The author outlines a practical approach for using the strengths of Black and Scholes model to understand, set up, and manage an effective option strategy. Step by step the author explains the most effective options and hedging strategies. While other resources rely on an ineffective twodimensional strategy to investing, Ursone takes a practical, four-dimensional approach that puts the emphasis on the distribution of the greeks. Greeks measure the sensitivity of the value of an option with regards to changes in parameters like the strike, underlying (Future), volatility (measure of the variation of the underlying), time to expiry or maturity and the interest rate. The author also emphasises an understanding of greeks with regards to the impact they may have on the P&L of an options portfolio.