Increased marketplace volatility and the expanding size of capital markets have led to an explosion of interest in options on futures. What makes these instruments so attractive is that they allow traders to profit from movements in the markets using little up-front capital and plenty of leverage. At the same time, they provide an excellent hedge against the risks associated with capital market investments. This book demystifies these notoriously difficult-to-understand instruments and provides state-of-the-art strategies and tools for making the most of options on futures. John F. Summa (New Haven, CT) is a CTA and cofounder of OptionsNerd.com, an online service providing market commentary, trading advisories, and assistance with trading system development. Jonathan Lubow (Randolph, NJ) is cofounder and Vice President of Trader's Edge, a futures and options brokerage.

JOHN F. SUMMA is registered as a commodity trading advisor (CTA) with the National Futures Association, and is cofounder of OptionsNerd.com, a Web site devoted to providing market commentary, trading advisories, and educational support to options traders. He has published numerous articles on options trading in a variety of publications, including Technical Analysis of Stocks &amp; Commodities magazine. Mr. Summa, a former professional skier, holds a master&#146;s degree in economics from the New School for Social Research and currently operates Summa Capital Partners, LP, a commodity pool hedge fund based in Connecticut. <BR> JONATHAN W. LUBOW is cofounder and Vice President of Trader&#146;s Edge (www.atradersedge.com), a futures and options brokerage based in Madison, New Jersey. He has worked on the floor of the Chicago Board Options Exchange (CBOE) and has had uninterrupted registration with the National Futures Association since 1990. Prior to forming Trader&#146;s Edge, he was the top performing broker at Carr Investments for five straight years. Lubow holds a degree in history from Dartmouth College.