Not losing money with options is a vital step on the path to being profitable with options. This volume of the best-selling Extrinsiq Advanced Options Trading Guides details dozens of the most common mistakes and trading disasters that every option trader (whether professional or retail) will want to avoid. In depth examples and recommendations for how to avoid such blunders are given. The topics covered include directional trading, exercise and expiration, mishandling of delta, problems with gamma and volatility trading, order entry and many of the landmines uniquely associated with stock/equity options.An actionable 5 point plan is also provided for all option traders to risk assess their own situation and try to prevent losses before they occur.The Extrinsiq Advanced Options Trading Guides are aimed at readers with a basic understanding of simple option terminology who are looking to broaden and deepen their knowledge base. The texts rely on plain, well-written English to explain ideas intuitively and the use of mathematics is kept to a minimum.