Praise for POSITIONAL OPTION TRADING Euan Sinclair's book provides an investor with a systematic quantitative approach for using options to enhance returns. Sinclair has worked for over 25 years in the options industry with two of the most successful market making firms. Drawing from his vast experience he exposes tricks of the trade that were previously only available to professionals or exchange members.--Blair Hull, Founder and Chairman, Hull Tactical Asset Allocation This book is another excellent example of Sinclair's in-depth understanding of derivatives markets. Chapter 10 alone is worth the price of the book; it deftly explains the real-world pitfalls that one usually learns about only after suffering losses. With astute analysis, Sinclair guides his readers through the complex world of derivatives markets.--Arthur Duquette, Partner, Bluefin Trading Volatility trading is asymmetrically difficult either on the short side or on the long side. In recent years we have seen both long and short volatility shops going out of business ... Euan Sinclair manages to relay a strong message that the difference lies in finding trades with positive expected value, not with the sign of your trades. He proposes to analyze the term structure, fundamental factors, and earnings for edges. He suggests evaluating the skewness and trade sizing to monetize the edges. This book is a must-read full of knowledge for anyone working with and learning about options markets!--Artur Sepp, Director of Research, Quantica Capital AG