Whether you are trading GME 0DTE (zero days to expiration) or SPX LEAPS, if you haven't read Natenberg, you aren't trading options—you are guessing.
He teaches you that an option is not a bet. It is a . You can assemble risk piece by piece. You can strip out the volatility, hedge the direction, sell the time, and buy the crash. Whether you are trading GME 0DTE (zero days
That shift in perspective is the difference between the gambler and the house. You can assemble risk piece by piece
Next time you look at an option chain, don't ask, "Will it go up?" Ask Natenberg's question: "Is the implied volatility cheap or expensive relative to the statistical truth?" Next time you look at an option chain,
Natenberg immediately flips this on its head. He argues that for a skilled trader, The real game is volatility.